June 6 (Reuters) - Australian shares fell on Tuesday after three straight sessions of gains, with most major sectors trading in negative territory, as traders awaited a policy decision from the country's central bank due later in the day.

The S&P/ASX 200 index was down 0.7% at 7,216.3, as of 0044 GMT, after rising 1.8% in the last three sessions.

The Reserve Bank of Australia will likely keep its key interest rate unchanged at 3.85% on Tuesday despite inflation staying well above the target range, according to a Reuters poll.

However, RBC Economics analysts said they expected the RBA would be forced to react to the recent data flow by raising rates, with a follow-up in July.

Globally, risk sentiment was subdued as market participants stayed on the sidelines to see if the U.S. Federal Reserve would refrain from raising rates in June after data released last week showed slowing wage growth.

In Sydney, heavyweight financials led the losses with a 1.1% fall. The so-called "big four" banks were down between 0.8% and 1.2%.

Energy stocks dipped 0.1% as oil prices gave up most of the previous session's gains that followed an announcement by top exporter Saudi Arabia that it would further cut output.

Sector giants Santos and Woodside Energy fell 1.2% and 0.9%, respectively.

Miners were down 0.3%, with BHP Group and Rio Tinto easing 0.8% and 0.5%, respectively.

Gold stocks dropped 0.6%, with the country's largest gold miner Newcrest Mining shedding 1.7%.

Among individual stocks, domestic bourse operator ASX Ltd declined 9.1% and was the top loser on the benchmark stock index, due to an increase in fiscal year 2024 capital expenditure and a revision in the dividend policy.

Fertiliser maker Incitec Pivot said its CEO and managing director Jeanne Johns would be stepping down from the roles. Its shares were last up 2.3%.

New Zealand's benchmark S&P/NZX 50 index fell 0.3% to 11,880.9 as markets resumed trade after a long holiday weekend. (Reporting by Ayushman Ojha in Bengaluru; Editing by Subhranshu Sahu)