The Reserve Bank is moving closer to hitting "pause" on interest rate rises as households struggle with rapid-fire increases to borrowing costs.
But governor Philip Lowe says further tightening of its monetary policy is still likely to ensure high inflation is only temporary.
In a speech following the 10th consecutive rise in the official cash rate, Dr Lowe said the RBA board discussed the timing of putting rate rises on hold and the financial pain being felt by borrowers during its last meeting.
