Sorry folks. The experts have placed their bets and it looks like Melbourne Cup Day won’t be delivering a win for mortgage holders this year.

Economists are warning the Reserve Bank is likely to hold interest rates steady next week as inflation proves stickier than hoped.

According to Finder’s latest RBA Cash Rate Survey , 86 per cent of its experts (30 out of 35) expect the cash rate to remain at 3.60 per cent in November, with just a handful predicting a rate cut following last week’s stronger-than-expected inflation data.

It’s a sharp reversal from just a month ago, when nearly seven in 10 economists had expected the RBA to start trimming rates by November.

“This time last month there was plenty of optimism for a rate cut in November, that’s largely evaporated,” said Graham Coo

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