AAP

The ASX200 made its biggest daily gain in more than a year as lower-than-expected GDP growth signals the RBA's rate rises are having their intended effect.

The ASX200 closed down 0.9 per cent despite the Reserve Bank's decision to keep interest rates on hold at its final meeting of 2023.

The ASX200 has climbed 0.7 per cent as investors feel more confident global central banks will stop tightening rates earlier than previously thought.

The local share market has recouped most of its morning losses to finish down 0.2 per cent, ending the week in positive territory.

The death of an Indigenous teenager from a self-inflicted injury has prompted Western Australia's government to close a youth detention facility.

Inflation cooled to 4.9 per cent over the 12 months to October, down from the 5.6 per cent growth recorded by the Australian Bureau of Statistics in September.

The Reserve Bank is set to scrutinise the latest retail trade figures as it continues its battle to wrestle inflation back to its target rate.

US stocks have closed mixed as investors digested data pointing to possible slowing economic conditions.

Australian banking customers will be better protected from scammers under a suite of changes introduced by the industry.