Homeowners wait for rates decision

Homeowners may gain a reprieve from rising interest rates when the Reserve Bank of Australia (RBA) meets on Tuesday.

Economists expect the RBA to sit tight this time as it monitors the effects of six rate hikes since October, and turbulence in international financial markets.

Fresh data indicates demand for credit has been dampened and the edge has been taken off rising house prices.

But while the central bank board is tipped to hold steady on interest rates for a little while, inflation is rising and that could force up rates again later this year.