Aussie borrowers hoping for mortgage relief have been left hanging after the Reserve Bank kept the official cash rate on hold at 3.6 per cent.

The RBA’s board also warned that inflation may be running hotter than it had forecast.

“The decline in underlying inflation has slowed,” the board said in a statement.

“Recent data, while partial and volatile, suggest that inflation in the September quarter may be higher than expected (at the August meeting).

“With signs that private demand is recovering, indications that inflation may be persistent in some areas, and labour market conditions overall remaining stable, the board decided that it was appropriate to maintain the cash rate at its current level at this meeting.”

The decision was unanimous and followed a unanimous decision to lower ra

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