RBA expected to keep interest rates on hold at today's board meeting
The Reserve Bank of Australia (RBA) is tipped to keep interest rates on hold at today's board meeting, extending some relief to hard-pressed households.
A further pause would see the cash rate remain at 4.1 per cent, where it has been since June.
An expected pause would save millions of homeowners another costly rise in their mortgage repayments.
Today's RBA board meeting is the first headed by new governor Michele Bullock, who succeeded Philip Lowe earlier this month.
Most economists and lending experts told a recent Finder.com.au survey they expect interest rates to stay on hold today.
But some warned a further rise later in the year remained a possibility.
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The RBA will have to weigh inflation pressures in the economy, including a resurgent property price.
The median price price of a home is now $1,110,660 in Sydney, $776,716 in Melbourne and $691,591 in Adelaide.
Since January, home values have recovered by 6.6 per cent and are heading for a new record high by late November, CoreLogic said.
The RBA also has to consider external factors impacting the Australian economy, such as the faltering China housing market and a global increase in the price of oil.
