The S&P/ASX 200 finished 0.2% higher at 8,696 on Wednesday, reversing losses from the previous session, lifted by gains in iron ore and gold miners, but financial stocks limited the rise as persistent core inflation kept a rate hike on the table. Local data showed headline consumer prices rose less than expected in November, though the core measure remained above the RBA’s 2–3% target, signaling ongoing inflation pressures. Attention now turns to the quarterly inflation reading due later this month, which could shape the central bank’s February policy decision. Swaps suggest a 35% chance of a quarter-point hike next month, up from 30% before the data. Rate-sensitive financials fell 1%, with three of the “Big Four” banks down between 1.5% and 2%, and top lender CBA sliding 1.7% to a near four-week low. Conversely, mining stocks jumped 1.2% to a record high amid strong commodity prices. Gold stocks added 1.1% on continued safe-haven flows following US military moves in Venezuela.