Oct 3 (Reuters) - Australian shares slumped to a more than six-month low on Tuesday as all major sectors dragged, while cautious investors awaited the central bank's interest rate decision.

The S&P/ASX 200 index toppled 1.7% to 6916.8 by 2323 GMT, its lowest level since March 21. The benchmark fell 0.2% on Monday.

Investors are bracing for the Reserve Bank of Australia's interest rate decision scheduled for release later in the day, with the markets largely expecting a pause, according to a Reuters poll.

Sentiment was also influenced by the U.S. Federal Reserve Vice Chair for Supervision Michael Barr saying on Monday he feels the Fed's policy rate is "at or near" a sufficiently restrictive level but flagging that rates will need to stay high for some time.

In Sydney, export reliant miners led the losses, falling 2.1%, with sector giant BHP Group, Rio Tinto and Fortescue Metals Group slumping between 2.4% and 1.9%.

Financials toppled more than 1%, with the "big four" banks sliding between 1.2% and 1.8%.

Weighing further on the benchmark, energy stocks fell 3% after oil prices fell as a higher-priced Brent contract expired and traders took profits, concerned about rising crude supplies and pressure on demand from high interest rates.

Sector heavyweight Woodside Energy and Santos fell over 3.1% each.

Weak bullion prices dragged gold stocks 2.9% lower, hurt by a robust dollar and prospects of higher U.S. interest rates.

Technology stocks also fell 1.4%.

New Zealand's benchmark S&P/NZX 50 index fell 0.9% to 11137.98.

The country's central bank is also scheduled to give out its interest rate decision on Wednesday.

(Reporting by Nausheen Thusoo in Bengaluru; Editing by Rashmi Aich)