Cash Rate -Unchanged Nov 25

The Reserve Bank of Australia (RBA) has delivered on one of the most widely tipped Melbourne Cup Day wagers, keeping interest rates on hold while also hinting there may be no further cuts to come.

Delivering its decision half an hour before the running of the famous race - in what has become a traditional but unconnected event - the RBA board said it was prudent to keep the cash rate target at 3.6 per cent.

And while some economists still believe the central bank will pass on a further cut or two next year, RBA Governor Michele Bullock hinted that interest rates may already be as low as they get this cycle.

"It's possible there are no more rate cuts, it's possible there are some more," she said, before adding that "it's an interesting question about whether there's many more rate cuts to come".

However, as Bullock has frequently done, she also stressed that her bank would react to inflation and unemployment data as needed.

"Anything is possible," she said.