The highly transmissible Delta variant of the coronavirus has taken hold in Sydney with close to 4,000 infections since mid-June despite weeks of lockdown
Meanwhile, mining stocks slipped, weighed down by weak prices across metals. Global miner BHP Group Ltd and top gold producer Newcrest Mining Ltd fell 1.7% and 1.3%, respectively.
Kent reiterated that the bank did not expect domestic inflation to return to its 2-3% target band until 2024 at the earliest, so policy would need to stay very accommodative.