Nov 23 (Reuters) - Australian shares fell on Thursday led by the losses in miners and energy stocks, a day after country's top central banker warned that inflation required substantial policy response.

The S&P/ASX 200 index fell 0.6% to 7,031.50 by 0010 GMT, with most major sectors in red. The benchmark ended almost flat on Wednesday.

In a hawkish sounding speech on policy, Reserve Bank of Australia (RBA) Governor Michele Bullock warned inflation had become increasingly driven by domestic demand rather than temporary supply chain pressures, requiring a more "substantial" response from interest rates.

"Markets currently price no hike at the next meeting on 5 December, but a 50% chance of one by March 2024," analysts at Westpac said in a note.

In Sydney, heavyweight miners led the losses with a 1.1% fall, with copper prices retreating on Wednesday on a firmer dollar.

Top miners BHP Group and Rio Tinto were down 1.2% and 1%, respectively.

Local energy stocks were down 0.9% with oil prices declining nearly 1% on Wednesday, as OPEC+ producers unexpectedly delayed a meeting on production cuts.

Sector majors Santos and Woodside Energy were 1.1% lower, each.

Gold stocks dropped 0.8% as gold prices fell below the key $2,000 per ounce level.

Northern Star Resources, one of country's top gold miners fell 1.4%.

Appen plunged more than 38% to their lowest in more than 8 years, as the AI firm closed a part of its equity raising amid a bleak earnings outlook.

Wealth manager AMP was the top gainer on the ASX 200 benchmark index, after settling the class action proceedings. Shares were up 4.7%.

In New Zealand, benchmark S&P/NZX 50 index fell 0.2% to 11,149.17. (Reporting by Ayushman Ojha in Bengaluru; Editing by Rashmi Aich)