The Official Cash Rate may hold steady this afternoon - after six consecutive cuts

But a 25-basis-point cut could still be on the table.

The Reserve Bank's lowered the OCR from 5.5 last August to 3.25 percent in May - driving mortgage rates down with it.

ANZ Chief Economist Sharon Zollner says at the last decision, it's mentioned there were some general concerns about inflation coming back.

She says there are certainly sticky parts of inflation - but in the bigger picture, those concerns will likely alleviate rather than intensify.