• The ASX 200 rallied up 34 points to 7006 (0.5%) post RBA announcement as it seems the central bank is in no hurry to raise rates. QE is dead. The meeting saw inflation revised higher but still too early to conclude whether it is nothing more than short term supply chain issues. The board is prepared to be patient. Enough to bring the buyers back. Although enthusiasm faded at close. Banks found support with the Big Bank Basket rising to $168.50. MQG also doing well and insurers enjoying a good day out at the beach. QBE up 2.3% and SUN up 1.6%. Money managers were also in demand, GQG rose 4.4% and MFG up 4.6%. Industrials firm but unspectacular, CSL up 0.5% RMD rising 2.3% and ALL up 1.4%. Consumer stocks modestly higher with tech the standout as SQ2 went hard up 6.1 as Block rallied in US. Z1P tried hard to hold double digit gains but succumbed eventually rising %. XRO up % and the All-Tech Index up 2.2%. Miners were in the doldrums as index rebalancing continued and BHP sagged 3.1% after holding up so well in the rout, money is now moving out of havens into growth tech. RIO down 2.4% and FMG off 0.7%. Lithium stocks stirring but need a push, PLS up 1.9% and MIN up 3.6%. Energy stocks better but still a little unloved all thing considered. Gold miners mixed. 
• In corporate news, Kerry Stokes will be happy at BLD will be paying a large $3bn distribution from its ill-fated US adventure. The market seems happy with its failure and sale of assets. ABB warned on rising costs but appears to have convinced the market that all is still well only off 1.4%. 
• Plenty happening on the economic front. RBA is playing a long game and doesn’t want to spook the horses, PM is talking LNP achievements in short speech and house prices continue to rise but peak looks in for the moment. 10-year yields down to 1.89%.

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