April 13 (Reuters) - Australian shares struggled for a direction on Thursday, as investor sentiment oscillated between gauging a cooler-than-expected U.S. inflation reading and potential recessionary risks arising from stress in the banking sector.

The S&P/ASX 200 index fell 0.03% to 7,341.70 by 0045 GMT, capping gains after two straight sessions. The benchmark rose 0.5% on Wednesday.

Inflation data showed consumer prices in U.S. barely rose in March, raising hopes that the Federal Reserve could pause monetary tightening following a 25-basis-point rate hike next month.

However, minutes of the meeting showed several policymakers last month considered pausing interest rate hikes after the failure of two regional banks and projected a "mild recession" starting later this year, with a recovery in 2024-2025.

Corporate Travel Management jumped up to 15.9%, hitting its highest level since August after it received a contract from the UK Home Office with an estimated contract total transaction value at about A$3.0 billion ($2.01 billion).

Miners and mining sub-index were flat even as China's robust loan growth in the first quarter bolstered hopes for an economic rebound for the world's biggest steel producer.

Sector giants BHP Group, Rio Tinto and Fortescue Metals Group fell between 0.04% and 0.5%.

Technology stocks edged 0.3% lower, after gaining more than 1% on Wednesday, mirroring their subdued U.S. peers overnight.

ASX-listed shares of sector major Block Inc. plunged more than 6%, while Xero Ltd fell 0.5%.

On the other hand, Financials added 0.3%, with all of the "Big Four" banks trading in the positive territory.

Energy stocks rose 0.5% and gold stocks gained 0.6% on strength in their respective asset classes.

Oil and gas explorer Beach Energy fell up to 2.3% after posting a 5% sequential drop in quarterly oil production.

New Zealand's benchmark S&P/NZX 50 index fell 0.2% to 11,890.42.

($1 = 1.4941 Australian dollars) (Reporting by Jaskiran Singh in Bengaluru; Editing by Rashmi Aich)