The Australian sharemarket is set for a cautious start on Monday as investors brace for a fifth interest rate rise on Melbourne Cup Day, amid fears the central bank will do whatever is necessary to beat stubborn inflation, with a follow-up increase looming.
Futures indicate the S & P/ASX 200 Index will open 4 points lower after posting its biggest weekly gain since August on Friday. The sharemarket is up more than 2 per cent this year but lags far behind Wall Street, where the artificial intelligence boom has powered big gains despite a recent pullback.
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