Mortgage holders are likely again to be denied any relief today when the Reserve Bank of Australia (RBA) announces its interest rates decision.
Economists are pointing to the resilient jobs market and robust demand as potential risks for delaying inflation's return to the RBA's core target of 2 per cent to 3 per cent.
Experts forecast RBA Governor Michele Bullock will announce the cash rate target is staying at 4.35 per cent when she announces the board's decision at 2.30pm.
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About 47,000 new jobs were created in August, according to the latest figures from the Australian Bureau of Statistics, as the labour market remains at historically tight levels despite the relatively weak economy.
This week's RBA meeting also comes after the US Federal Reserve decided to cut rates by 50 basis points last week to 4.8 per cent – still higher than the RBA's current cash rate target of 4.35 per cent.
But that is also unlikely to pressure the RBA into cut, with Bullock last month admitting Australia and the US have different rate cycles.
The vast majority of experts and economists forecast mortgage holders will have to wait until early next year for relief.
Comparison group Finder.com.au spoke to 42 experts and economists for this month's RBA Cash Rate Survey, and every one of them said the Reserve Bank would maintain the current cash rate in September.
And 68 per cent of those surveyed expected the next rate cut during the first three meetings next year, with 44 per cent picking February 2025 as the most likely date.
The current cash rate has been maintained since last November and through six RBA meetings.
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