RBA interest rates live updates: Reserve Bank decides to hold rates after inflation breaks out of comfort zone

As expected, the Reserve Bank has held the cash rate steady, spooked by last week’s quarterly inflation figure which busted out of the central bank’s comfort zone.

In case you missed it, here’s your essential form guide to today’s race (and why the RBA is reluctant to offer any more rate relief, at least for now) ...

Rate Cut: Likely a late scratching. Had been looking the goods just last week until she stuck her head around the corner of Inflation’s stable on the way back from training. That clearly scared the bejesus out of her and she won’t trouble the bookies today. Sorry folks, this horse has bolted.

Unemployment: Resilience personified. Has been ticking along at a steady pace for much of the past year with only a few sign that he may just be starting to run a little hotter. The stewards will be keeping an eye out for any unexpected movements.

Inflation: Once thought tamed, last week showed you can never write her off. Was in fine form earlier this year when she was brought back to a trot. Tests last week revealed a spike in performance. All bets will be off if she and Unemployment are leading the pack at the final turn.

Rate Hike: A real outside punt. He hasn’t looked a chance since last 2023, but some bookies are starting to factor in a possible return to form, maybe next year?

Michele Bullock: AKA ‘The Governor’, she has looked good since taking the reins in September, 2023. Strong under pressure from the cameras, and you can guarantee she’ll be watching closely where Inflation and Unemployment sit in the field. If those two start to get any from her, she knows they’ll be hard to chase.

Homeowners: Don’t expect to hear much. The quiet achiever, he’s been rolling with the punches, just holding on for dear life since May, 2022. Absolutely no chance of a place and would just be happy to pass the post.

Stay with us and we’ll bring you all the action ahead of the race.