The Reserve Bank Governor is defending not going harder with cuts to the Official Cash Rate

The cash rate has been cut 25 basis points, to three percent.

But it's signalling more cuts than it was before, and has revealed two of the six Monetary Policy Committee members, actually wanted a bigger cut.

Christian Hawkesby says he stands by the central bank's decisions.

He says they're focused on their mandate of controlling inflation over the medium term, but the recent slowdown has changed their outlook.