Reserve Bank governor Philip Lowe says interest rate pause is "closer"

Reserve Bank governor Philip Lowe has acknowledged for the first time that he's closer to pausing further interest rate rises. 

Mr Lowe has cited the pressure on households after ten consecutive interest rate rises eat into finances and take a record share of wages. 

So just when might the rate rises stop?

Here's my report on The World Today.

Earlier, Treasurer Jim Chalmers acknowledged the softer language but wouldn't be drawn on when the RBA might pause rate hikes.

Also, Betashares chief economist David Bassanese tips a rate cut on Melbourne Cup Day when the RBA board holds its November meeting.