Australian shares slipped 0.3 percent on Monday, retreating from eight-month highs hit last week with investors on tenterhooks ahead of inflation figures, which could spur the central bank to cut interest rates. "We could see a rally," said Macquarie Equities division director Lucinda Chan, if the March-quarter consumer price index data on Tuesday comes within expectations.
The Reserve Bank of Australia has already indicated it will consider cutting the 4.25 percent cash rate at its next policy meeting on May 1, providing inflation numbers are tame. The benchmark S&P/ASX 200 index ended down 14.1 points at 4,352.4. The index gained 1.0 percent last week. New Zealand's benchmark NZX 50 index closed down 2.8 points at 3,513.5.
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