March 7 (Reuters) - Australian shares inched higher on Thursday boosted by the gains in financial stocks, as weaker-than-expected domestic growth data for the fourth quarter renewed market bets for interest rate cuts.

The S&P/ASX 200 index rose 0.2% to 7,745.5 by 2352 GMT. The benchmark rose 0.1% on Wednesday.

The Australian Bureau of Statistics reported a slower-than-expected growth in gross domestic product for the October-December quarter on Wednesday, indicating that the Reserve Bank of Australia's (RBA) measures to tackle soaring inflation have been successful in bringing down consumer demand in the country.

"Looking ahead, the economy is expected to see continued weakness near-term with a policy 'pivot' providing more support from the middle of the year," Westpac analysts said in a note.

"An improving inflation situation should allow the RBA to begin moving interest rates lower from September."

Meanwhile, analysts at Citi expect quarter-basis points cuts in August and November this year.

Rate-sensitive financials sub-index rose 0.4% to touch its highest level in more than 16 years. The country's largest lender Commonwealth Bank of Australia added 0.4%, while National Australia Bank gained 0.7%.

Technology stocks tracked overnight gains in U.S. peers and climbed 1.2%, paring some of their losses from Wednesday.

Wisetech Global rose 1.1%, while Xero advanced 1.7%.

Gold stocks gained 1%, as bullion prices extended their rally.

Northern Star Resources jumped 1.8% and Evolution Mining climbed 0.8%

Bucking the trend, miners fell 0.4%, as iron ore futures declined on a weak steel market and lack of stimulus from top consumer China.

Behemoth miners BHP Group and Rio Tinto lose 1.3% and 2.5%, respectively.

Energy stocks retreated 1%, with Woodside Energy losing 2.8%.

New Zealand's benchmark S&P/NZX 50 index rose 0.3%, or 37.77 points, to 11,833.67.

(Reporting by Sneha Kumar in Bengaluru; Editing by Rashmi Aich)