Experts are divided on whether or not the board will elect to push rates another 0.25 per cent higher.

The latest inflation numbers are lower than forecast, falling to six per cent growth in the June quarter.

The RBA will meet eight times a year to set interest rates rather than 11.
The RBA will hand down its rates decision this afternoon. (Getty)

The annualised rate of inflation is close to the RBA’s target of between two and three per cent, which could indicate a decision to hold rates steady.

However, the job market remains strong, which could precipitate another rise.

Outgoing governor Philip Lowe indicated in July further rate rises would be necessary as the bank seeks to curb inflation.

“Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe, but that will depend upon how the economy and inflation evolve,” Lowe said.

Currently, the cash rate sits at 4.1 per cent after the bank held at the July decision.

On a $500,000 loan, mortgage holders are paying approximately $1217 more a month than they were in May last year.

18. Adelaide Hills, South Australia

Revealed: The top 20 suburbs in Australia where nobody wants to sell

Sign up here to receive our daily newsletters and breaking news alerts, sent straight to your inbox.
You May Also Like

Not enrolled to vote? You have just hours left to get it done

Australians who are not currently enrolled to vote in the 2025 federal…

Aussie dollar's horror plunge against the greenback

The Australian dollar has dropped below US60 cents for the first time…

Queensland hit by measles fears after infected traveller visits several sites

A health alert has been issued in Queensland after a person infected…

Trump's vaccine skeptic health chief visits centre of measles outbreak

US Health and Human Services Secretary Robert F. Kennedy Jr. visited the…