Home borrowers are being urged to consider fixing their mortgage rates after RBA governor Michele Bullock declared the possible end of rate cuts during this cycle.

On Tuesday, the Reserve Bank of Australia left interest rates on hold at 3.6 per cent, confirming traders’ expectations the chances of a cut was just 4 per cent, arguing inflation was worse than anticipated only a month ago.

“Recent data, while partial and volatile, suggest that inflation in the September quarter may be higher than expected,” it said.

Ms Bullock went further and suggested the rate cut cycle could be over, should consumer spending improve in a tight labour market.

“If that means that we don’t lower interest rates further, then I wouldn’t say that’s necessarily a bad news story,” she told reporters in Sydney.

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