May 9 (Reuters) - Australian shares are expected to open lower on Monday on continuing fears of aggressive rate hikes and economic slowdown after the country's central bank raised inflation forecasts drastically last week.
The local share price index futures fell 0.7%, a 98.6-point discount to the underlying S&P/ASX 200 index close. The benchmark fell 2.2% on Friday.
New Zealand's benchmark S&P/NZX 50 index fell 0.1% to 11,599.28 in early trade.
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