RBA Rate Hike Boosts Aussie Shares to 15-Year High

Australian shares closed higher on Tuesday, driven by gains in mining and tech stocks.

The Reserve Bank of Australia (RBA) had delivered a widely expected rate hike, increasing the cash rate to 4.60%, its highest level in 15 years.

This was the RBA's fourth rate increase this year, with the central bank aiming to combat stubborn inflation.

The market reaction to the rate decision was positive, with miners and tech stocks leading the gains.