The Australian share market ended the week slightly lower, following brief record highs in the previous session, as utilities and health care companies led declines.
The S&P/ASX 200 Index shed 8.1 points, or 0.1%, to close at 8,436.2.
Seven of the 11 sectors saw declines, driving the index into negative territory.
Meanwhile, economists at ANZ, and Bank of Queensland revised their interest rate cut forecasts, now expecting the Reserve Bank of Australia (RBA) to deliver its first interest rate cut in May 2024, later than their previous forecast of February.
Local shares found little inspiration from Wall Street, where U.S. markets were closed for the Thanksgiving holiday.
Meanwhile, bond markets saw mixed activity, with Australian 10-year and 2-year yields at 4.367% and 4.215%, respectively.
