Mortgage-holders may have to wait longer for more interest rate relief after a hawkish turn from the Reserve Bank prompted analysts to push back their expectations for when the central bank will next cut rates.

The RBA left the cash rate on hold at 3.6 per cent on Tuesday, in a move widely anticipated by economists and bonds traders.

But accompanying commentary from the bank's board and governor Michele Bullock was more pessimistic about inflation than expected.

After previously anticipating the next cut to come in November, Commonwealth Bank economists pushed back their forecast until February.

The RBA board was concerned that, following strong economic activity and consumer price index figures in the lead-up to the meeting, inflation was now set to overshoot their latest forecasts.

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