The COB from ausbiz

The local share market continues to shake off fears of an escalating conflict in Ukraine and the policy dilemma it poses central banks in the face of rising inflation. The ASX200 finished the day up 0.7%, led by tech stocks, with the sector up by more than 5%. Russia's aggression in eastern Europe is occupying the mind of Reserve Bank Governor, Philip Lowe, who referred to the war in Ukraine as a major new source of uncertainty. Nonetheless, the RBA kept the key cash rate at 0.1% at its March board meeting, reiterating it remains patient to ensure inflation is sustainably within the bank's 2 to 3% target band before it begins its tightening cycle. Prior to the meeting the ASX 200 was up more than 1%. Investors bet on PointsBet (PBH) today, up more than 17%, while uranium miner Paladin Energy (PDN) added 13%.

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