Mortgage holders, renters and savers will be watching closely as the Reserve Bank prepares to reveal the Official Cash Rate update at 2pm.

Mortgage holders, renters and savers will be watching closely as the Reserve Bank prepares to reveal the Official Cash Rate update at 2pm.

A 3-3 split saw the Reserve Bank governor make the final call on the OCR.

Short-term home loan rates are likely to feel the most immediate impact of the Reserve Bank's move on Wednesday to keep the official cash rate on hold.