Millions of Aussies denied further financial relief as the Reserve Bank of Australia holds the cash rate at 3.6 per cent

The Reserve Bank of Australia has held the cash rate once again as a recent uptick of inflation has prolonged much-needed financial relief for millions of Aussies.

The central bank held the cash rate at 3.6 per cent after slashing rates by 0.25 per cent last month.

Tuesday’s decision met widespread expectations with money markets saying there was a 92 per cent chance the RBA would hold rates.

It follows inflation lifting to three per cent in the 12 months to August after many state government subsidies ran out.

This puts inflation at the top of the RBA’s 2-3 per cent target band.

The central bank, however, mainly examines trimmed mean inflation – the middle 70 per cent of price changes in the consumer price index.

Trimmed mean inflation was 2.6 per cent in the year to August, just