The Reserve Bank has put a hold on the official cash rate of 3.60 per cent after 10 consecutive rate rises, however, they have not ruled out future increases.

AMP chief economist Shane Oliver told Oliver Peterson on Perth Live he is glad the RBA paused rate rises.

“We’re seeing clear evidence the economy is slowing down,” said Mr Oliver.

“Just pausing I think it gives them some scope to sort of sit back and assess the impact.”

Press PLAY below to hear why this is not a reprieve

Image by Alex Ellinghausen via WAToday