The central bank will announce its decision at 2pm, with financial experts and economists widely forecasting the cash rate will remain at the 12-year high.
Interest rates are set to remain on hold when the Reserve Bank of Australia finishes its second meeting of the year later today.
Falling inflation has bolstered hopes the Reserve Bank will soon be able to reduce interest rates, providing some much-needed relief for mortgage holders.Mortgage holders are likely to be facing a further wait before interest rates come down, with the Reserve Bank tipped to keep the current 4.35 per cent on hold.
Economists remain split on when the Reserve Bank will starting cutting interest rates, with many forecasting it won't be until the second half of this year.
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