Feb 18 (Reuters) - Australian shares slipped for a second consecutive session on Tuesday, as BHP Group dragged down mining stocks after reporting its lowest profit in six years, while the markets awaited the central bank's monetary policy decision due later in the day.

The S&P/ASX 200 index .AXJO fell 0.4% to 8,504.60, as of 0008 GMT. The benchmark has now lost more than 110 points since it touched an all-time high on February 14.

BHP Group BHP.AX, the world's largest listed miner, fell 0.8% after it posted an interim profit of $5.08 billion, down 23% from last year and its lowest since 2019, while also flagging risks to its growth from potential U.S.-China trade tensions.

Rival Rio Tinto RIO.AX, which reports results later in the week, declined 0.7%, further dragging the mining sector .AXMM down as much as 0.4%. IRONORE/

The Reserve Bank of Australia later in the day will announce its much-anticipated interest rate decision. Over 90% of economists surveyed by Reuters reckon the RBA will cut, and market pricing indicates an 87% probability. 0#AUDIRPR

Energy stocks .AXEJ were down 1%, and were set for their fourth straight session of losses. Australia's no.1 independent oil and gas producer Woodside Energy WDS.AX tumbled 1.3%, while its smaller rival Santos fell 1%.

Heavyweight financials .AXFJ added to overall losses after dropping 0.3%, dragged by lender Westpac WBC.AX, which fell 1.1%, extending losses after posting lower margins on Monday.

National Australia Bank NAB.AX and ANZ Group ANZ.AX lost around half a percentage point each.

In New Zealand, the benchmark S&P/NZX 50 index .NZ50 rose 0.2% to 13,099.89.

The Reserve Bank of New Zealand is expected to cut rates more with a 50 basis-point reduction on Wednesday.

Elsewhere, the Brent crude LCOc1 futures rose 0.78% to $75.32 a barrel while U.S. West Texas Intermediate $(WTI)$ crude CLc1 gained 0.76% to $71.28 per barrel.

Japan's Nikkei .N225 was up 0.3% at 39291.37.

(Reporting by Nichiket Sunil in Bengaluru; Editing by Rashmi Aich)

((Nichiket.Sunil@thomsonreuters.com;))

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