The Reserve Bank says there may be a need for more interest rates hikes.

It has held the Official Cash Rate at 5.5 percent, and their forecast track suggests no rate cuts are on the horizon until mid-2025.

Independent economist Tony Alexander says he doesn't think the Reserve Bank will actually do that- or really believes it will have to.

"I think today's statement was all about a signal to the market. To say- don't get too optimistic out there, inflation's falling, but maybe you're getting a bit optimistic about the pace which things are going to ease off."

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