Hopes of a rate cut had been higher earlier in the betting period as employment levels looked to have softened.
But a spike in inflation during September dashed any chance of a further cut.
All eyes are now on the December 8-9 meeting, the last chance for a pre-Christmas cut.
So what is likely to happen?
In economist speak, the RBA will be watching the inflation data closely to see if the September spike is a one-off or not, reports news.com.au.
They’ll also be crunching some new data ahead of the December meeting.
“We’ll have national accounts, we’ll have labour market, we’ll have first monthly CPI so there’ll be more information there,” RBA governor Michele Bullock said.
“I would say though that we have already had three interest rate cuts.
“I know mortgage holders always want more but it’s also important that we make sure that we keep inflation under control because ultimately that’s also what impacts people’s living standards so it’s really important we get that right, too.”
So borrowers may need to be extra nice if they want Santa to deliver a pre-Christmas gift in the form of a rate cut.
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