Anyone who had a bet on the Melbourne Cup on the strength of their home loan repayments being cheaper will be disappointed.
Unless they backed the winner, of course - Prince Of Penzance at a staggering starting price at $101.
The Reserve Bank left the cash rate at a record low of two per cent at Tuesday's monthly board meeting, as most economists had predicted.
However, the decision was considered to be a closer run event than of late given last month's benign inflation figures and mortgage rate hikes by the major banks.
While RBA governor Glenn Stevens noted economic conditions had firmed a little over recent months, he left the gate open for a reduction down the track.
"The outlook for inflation may afford scope for further easing of policy, should that be appropriate to lend support to demand," Mr Stevens said in his post-meeting statement.
The cash rate has been unchanged since May.
Financial markets now see a greater chance of a reduction in the cash rate to 1.75 per cent in February - the first meeting of 2016 - rather than next month.
National Australia Bank markets chief economist Ivan Colhoun continues to see no change to the RBA cash rate in coming months.
"Further easing would require deterioration in the economic outlook or the continuation of only slow improvement," Mr Colhoun said.
Speeches on Thursday by Mr Stevens and his deputy Philip Lowe and the RBA's quarterly monetary policy statement on Friday - which contains its latest inflation and economic growth forecasts - will pad out the central bank's thinking on the outlook.
Retailers were disappointed in light of the major banks increasing their home loans last month to pay the cost of tighter prudential rules.
Australian Retailers Association boss Russell Zimmerman hopes the RBA's decision to leave the cash rate on hold will not come at the cost of much-needed Christmas spending for retailers.
"An interest rate cut would have provided consumers with more discretionary dollars in their pockets and higher confidence, which generally leads to a greater willingness to spend," Mr Zimmerman said.
However, consumers remain reasonably confident after Malcolm Turnbull took the reins of government.
The ANZ-Roy Morgan confidence gauge for the past week rose 1.6 per cent and has remained above its long run average over the past five weeks.
