The Reserve Bank has opted to keep interest rates on hold, despite all signs pointing to a rate cut.

While many major banks predicted a 25 basis point cut, the cash rate will remain steady at 3.85 per cent.

Press PLAY to hear Shane McInnes’ snap reaction

“This is a kick in the guts for a lot of people with a mortgage,” Shane McInnes said on 3AW Afternoons.

Press PLAY to hear the co-founder of Athena Home Loans speak about interest rates staying on hold

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