The Reserve Bank of Australia (RBA) is widely expected to hold the cash rate steady at 4.35 per cent when it announces its interest rate decision at 2:30pm today. Only one major bank is still holding out hope the central bank will cut rates by the end of the year.

All 42 experts surveyed by comparison site Finder for its September rate survey said the bank would keep rates on hold. Nearly two-thirds of panellists said they believed the bank would cut rates in February,

While markets are expecting at least one rate cut before the end of the year, RBA governor Michele Bullock and most of the big four banks disagree.

Amid rising political pressure on the Reserve Bank to cut interest rates, there’s actually a growing risk that domestic monetary policy will be on hold for longer than currently expected, economists say.

Labor is staring down a threat from the Greens that the federal government steamroll the central bank and force it to cut rates to get a deal on reforms.

The Reserve Bank of Australia is widely expected to keep interest rates on hold on Tuesday at the 12-year high of 4.35 per cent.

Here's the latest on interest rates in Australia — from when the first cut is predicted to how much mortgage holders could save.