Australian markets end modestly higher

Australian markets ended modestly higher as the Reserve Bank of Australia kicked off its two-day policy meeting amid rising economic complexities.

The benchmark S&P/ASX 200 edged up by 0.15 percent to 8,894.80 while the broader All Ordinaries index settled little changed with a positive bias at 9,182.50. Lender Westpac rallied 2.8 percent despite reporting a drop in annual profit.

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