RBA keeps interest rates on hold at 1.5% for 25th month

The Reserve Bank has left the cash rate on hold at 1.5 per cent less than a week after the first of the Big Four banks disregarded the official interest rate and increased costs for borrowers.

Reserve Bank of Australia governor Philip Lowe says a move in interest rates is still a while away. (AAP) Source: AAP

The decision come as Josh Frydenberg faces his first test as Treasurer on Wednesday, where the Australia's quarterly Australia's growth figures give him a chance to refocus voters on the Coalition's economic record as they become increasingly frustrated by a lack of wage growth and punish the party for internal squabbling.

Commonwealth Bank, ANZ and National Australia Bank chiefs are now weighing up whether to follow Westpac's lead after the central bank again signalled that official rates were going nowhere soon.