Australian equities retreated on Tuesday after the Reserve Bank of Australia disappointed investors by leaving the Australian benchmark interest rate unchanged at 3.50%. The central bank of Australia said that inflation rate and growth pace are close to forecasts thus current monetary policy seems appropriate. The S&P/ASX 200 Index lost 0.60% to close at 4,303.50. Only two sectors in ten included in the index managed to go higher. The top-gainers were technology firms, with technology sector jumping by 2.87%. Sending the Australian benchmark index lower, financial institutions and industrials slumped. ANZ Banking Group, ASX and Commonwealth Bank of Australia dropped by 2.10%, 0.85% and 0.65%, respectively. Among industrials, Boral and Downer EDI plunged by 3.15% and 3.09%. Basic materials producers also retreated, with Fortescue Metals losing 4.21% on news that the company is cutting jobs and postponing some development works to lower costs.