At this month’s November meeting, the RBA left the cash rate on hold at 1.50%.

Experts correctly predicted today’s decision, forecasting the cash rate would remain on hold in November.

The CoreLogic head of research Tim Lawless noted a slowdown in housing market conditions has helped to alleviate some of the pressure to raise the cash rate.

“The fresh round of macro-prudential policies announced in late March have resulted in tighter credit policies and premiums on mortgage rates for investors and interest only borrowers.

“Tougher lending conditions have arguably had a similar effect as a lift in the cash rate, except the effect is more focused on slowing investment activity across the housing sector while low interest rates continue to provide a broader and much needed economic stimulus.”