The Reserve Bank of Australia has kept the cash rate on hold at 3.6 per cent for its second meeting in a row, in a blow to mortgage holders hoping for further financial relief.

Join SkyNews.com.au to hear from Treasurer Jim Chalmers at 3pm and RBA governor Michele Bullock from 3.30pm about the recent cash rate decision.

A sharp rise of inflation in the September quarter hurt the prospect of near-term rate cuts.

Trimmed mean inflation – the middle 70 per cent of price changes core to the RBA’s decision – rose to three per cent, hitting the top of the central bank’s 2-3 per cent target band.

Following the release of this data, the chances of a rate cut dived.

The odds of a cut on Tuesday were at about five per cent prior to the RBA’s decision while the chances of a hold were about 95 pe

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