Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser said that the chances of another cut in the official cash rate are "very low," according to a Thursday report by ABC.

"The governor said ... that the likelihood, at least in the near term, of further rate cuts was probably very low; that's still true, I think, if I'm honest with you," Hauser said in an interview with ABC.

Hauser said that the RBA's priority was ensuring inflation remained on target, between 2% and 3%.

Hauser added that the November inflation data were broadly in line with the RBA's expectations.

The RBA Deputy Governor said that the central bank did not target inflation as it stood currently, but in a year or two years' time by judging the outlook for inflation.

"It's clear if you look at the geopolitical, geo-economic situation, 2026 is going to be as challenging as 2025," Hauser said, commenting on Venezuela's political turmoil.

While Hauser said that the US strikes on Venezuela create "new geopolitical pressures," he added that if Venezuela's oil reserves are mobilized, oil prices may decrease, leading to cheaper petrol for Australians.

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