(Corrects and changes sequence of paragraph 13 in June 20 report to say New Zealand growth, not Australia growth, and RBNZ forecast, not RBA forecast)

* Shares close flat amid inflation worries

* Namoi Cotton hit lowest since May 1

* NZ stocks up after GDP meets expectations

June 20 (Reuters) - Australian shares ended flat on Thursday as losses in the technology and healthcare stocks countered gains in the commodity stocks, while expectations of an early rate cut were dampened by the local central bank's warning on sticky inflation.

The S&P/ASX 200 index was largely unchanged at 7,769.4 points at the close of trade. The benchmark fell 0.1% on Wednesday.

The Reserve Bank of Australia on Tuesday kept interest rates unchanged at a 12-year high as inflation remained above its target band, prompting concerns that a rate hike might be on the cards if inflationary pressures persist.

"The path ahead for the stock markets appears increasingly blurred as traders await fresh signals from both the economic and monetary fronts," Hebe Chen, a market analyst at IG said.

Global investors await the Bank of England's rate decision. The central bank is expected to leave rates unchanged.

Last week, the U.S. Federal Reserve had signalled a single rate cut for this year.

In Australia, healthcare firms snapped five consecutive sessions of gains to close 1% lower, leading the losses in the benchmark.

Technology stocks fell 0.5%, with accounting software provider Xero easing 0.2%.

On the other hand, gold stocks led gains among resources, rising about 0.4%, after bullion prices hit a two-week high.

Heavyweight miners ticked 0.1% higher, while energy stocks were largely unmoved.

Namoi Cotton dropped as much as 7.9% to its lowest since May 1, after the regulator raised competition concerns in cotton ginning services after it acquires Singapore's Olam Agri .

New Zealand's benchmark S&P/NZX 50 index gained 0.9% to finish the session at 11,771.81 points.

Data showed the country's first-quarter gross domestic product grew in line with the RBNZ's (Reserve Bank of New Zealand) forecast, doing little to change the rates outlook. (Reporting by Prerna Bedi in Bengaluru; Editing by Mrigank Dhaniwala)