Mortgage holders could be just weeks away from further interest rate hikes as the Reserve Bank’s second-in-command says the central bank will do what it takes to get inflation back to target.

Meanwhile, the RBA's assistant governor did little to downplay expectations of a rate hike in comments on Tuesday.

Reserve Bank of Australia holds cash rate at 4.35% but signals further hikes may come as underlying inflation stays near 3.6%, well above its