IRONORE/ Index majors BHP Group BHP.AX and Rio Tinto RIO.AX were down between 2% and 2.5%. The Reserve Bank of Australia left cash rate untouched at its monthly policy meeting, but dropped a commitment to keep yields on the April 2024 government bond at 0.1%, citing improving economic recovery and rising inflation. Insurance Australia Group IAG.AX was the worst performer on the sub-index, dropping 7% after it warned of higher costs due to bad weather.