The local sharemarket has dropped to a six-week low after the Reserve Bank kept interest rates unchanged and suggested that it was in no hurry to adjust them in either direction.
The benchmark S&P/ASX200 index on Tuesday fell for the fifth time in the past six sessions, dropping 81.1 points, or 0.91 per cent, to 8,813.7, while the broader All Ordinaries slid 84.3 points, or 0.92 per cent, to 9,098.2.
The ASX200 spiked 23 points in the space of two minutes after the RBA left interest rates on hold on Tuesday afternoon, but ultimately gave back all of that brief burst.
The Australian dollar was buying 65.32 US cents, from 65.59 US cents at 5pm on Monday.
