Mumbai, April 30 -- Australian stocks edged lower on Thursday, with the S&P/ASX 200 slipping 0.2% to close at 8,666, marking its eighth straight day of losses and a three-week low. Investors remained cautious ahead of a possible interest rate hike by the Reserve Bank of Australia next week, as inflation continues to stay above the central bank's target.

Price pressures remain strong, with inflation rising to 4.6% in March, increasing expectations that rates could climb further in the coming months. In the US, the Federal Reserve kept rates unchanged, but uncertainty remains due to internal disagreements and upcoming leadership changes.

Among stocks, Woolworths dropped sharply after warning that future earnings could be weaker due to hig...