Market Wrap / an inflation-driven hold

The RBA chose to keep the cash rate ON HOLD, which gave a temporary rebound to the S&P/ ASX 200, still closing 0.91% lower to 8,813.70 points this Tuesday.The central bank cited a recent pick up in inflation, and noted that while domestic economic activity is recovering, the outlook remains uncertain. Over the RBA decision, the Aussie jumped back to around 0.653 on the US dollar. Equity-wise, most sectors closed in the red, with Utilities stocks leading the losses, while the banks and REITs also weighed negatively. In company news, G8 Education provided a downbeat trading update, saying an expected increase in occupancy did not occur over this half of the calendar year. This sent the stock 12.96% lower. Meanwhile, Kroll Australia, an independent expert, concluded that the planned merger between Southern Cross Media and Seven West Media is in the best interests of shareholders.Looking ahead, a batch of US companies report overnight, including Uber, Spotify and Pfizer. And in the healthcare space, CSL will be holding its Capital Markets Day.