The S&P/ASX 200 edged lower by 0.1% to 8,718 on Tuesday, following a flat close in the previous session, as investors remained cautious ahead of Wednesday’s November CPI release. Inflation is expected to ease slightly to 3.7% from 3.8% in October. However, a recent survey of leading economists reported by the Australian Financial Review suggests that the RBA may not be finished tightening this cycle, as the poll indicates inflation is likely to remain stubbornly elevated over the coming year, prompting expectations of at least two additional rate hikes. Financials weighed on the index, with CBA falling 1.1%, Westpac down 0.5%, NAB declining 0.7%, and ANZ Group Holdings slipping 0.8%. In contrast, BlueScope Steel surged 20.5% to a more than 17-year high after confirming it had received a $30.00-per-share takeover offer from a consortium led by SGH Ltd and US-based Steel Dynamics. Meanwhile, mining giants BHP Group rose 1.1% and Rio Tinto advanced 1.9% amid record-high copper prices.