It's looking increasingly unlikely borrowers will get more mortgage relief in 2025 after the Reserve Bank of Australia's most hawkish interest rate hold since it began cuts.

Governor Michele Bullock refused to say whether the central bank was still on a downward path after its monetary policy board left the cash rate steady at 3.6 per cent on Tuesday.

The unanimous decision, which was widely expected, followed a 25 basis point reduction in August and two prior cuts this year.

While the RBA had been on a steady cadence of one cut every two meetings, after each quarterly inflation print, there is no certainty a fourth cut will eventuate at its next meeting in November.

Gone are the comments that inflation was continuing to moderate and the labour market is easing.

"The board sees the ri

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