The RBA Board has left the official cash rate on hold for the 26th consecutive month at 1.50 per cent.

No changes are expected to cash rate in the short term with many economist forecasting interest rates to be on hold throughout 2019 and well into 2020.

This decision hasn’t stopped further out of cycle rate hikes with Bank West the latest to increase their variable rates by 15 bps and ING Bank smacking new and existing investors with a 15 bps increase forthcoming.