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The Reserve Bank has chosen to hit pause on interest rates but mortgage holders are yet to feel the full force of tightening so far.

The central bank kept the cash rate firm at 4.1 per cent, a decision that followed hikes amounting to four percentage points to bring down inflation.

The July call has been welcomed by borrowers, with mortgage holders already due to fork out an extra $1134 to monthly payments on a standard $500,000 loan compared to before the hikes, according to RateCity.

Borrowers are also yet to feel the last two hikes, of a total of 12 since May last year.

RateCity research director Sally Tindall said mortgage holders were only just forking out for the 10th hike as there's typically a lag of two or three months between interest rate movements and money leaving bank accounts.

"Their monthly repayments are likely to rise two more times, even if the cash rate doesn't move a muscle, which, in itself, is an unlikely scenario," she said.

RBA governor Philip Lowe kept his reference to further tightening, if necessary, in his July monetary policy statement.

Many economists still expect one more hike, including Su-Lin Ong and Robert Thompson of RBC Capital Markets.

The pair said interest rates would probably need to go higher with Australia likely to mimic comparable nations that are experiencing price pressures from strong population growth, higher rents and utilities.

"Policy settings probably need to be more restrictive and we leave a final 25 basis point hike in our profile," they wrote in a note.

Consumer confidence took a hit in the lead-up to the finely balanced rates decision, inching 0.8 points lower to 74.1 last week.

The weekly index by ANZ and Roy Morgan has been in deeply pessimistic territory throughout the interest rate hiking cycle.

Averaged over four weeks, confidence is at its lowest level in 30 years with the exception of the first month of the pandemic.

© AAP 2023

A comeback Wimbledon win has booked Jordan Thompson a Centre Court showdown with defending champion Novak Djokovic that he admits could be "a dream or a nightmare".

The Aussie battler came from two sets down to beat higher-ranked American Brandon Nakashima 2-6 2-6 6-4 7-6 (7-4) 6-3.

That earned him a second round tilt at the 23-time grand slam winner who he believes may be "the best ever."

Thompson has never played the Serb, but did face him across the net when a junior at the Australian Open around a decade ago.

Newly shaven, after a barber got carried away and Thompson decided he may as well finish the job, the usually hirsute 29-year-old joked, "I hit with him when I was a kid. I doubt he would remember - but maybe as I've shaved and got a haircut he might recognise me now."

Thompson, ranked 70 in the world, believes he can beat the world No.2.

"I wouldn't go out on the court if I didn't think I could do damage. As silly as it sounds, I've got to believe that I can win otherwise there is no point going out there.

"I know the odds are firmly against me. But yeah, just get out and enjoy it and just have fun. It's not every day you play Novak at Wimbledon.

"It could be a dream, or could be a nightmare. I've seen a few guys have nightmares out there against him on Centre Court, but hopefully that won't be the case for me.

"I played Rafa (Nadal) at the French (Open) on (main court) Philippe Chatrier (losing 2-6 2-6 2-6 in 2022). I said at the end of the match to him, 'it wasn't fun, but it was an honour'.

"Hopefully, it's a little bit more fun against Novak but I'm well aware that it might not be."

Thompson said he'll be asking advice from his friend and compatriot Nick Kyrgios, who lost in four sets to Djokovic in last year's final.

"Nick's beaten him a couple of times. He played him in the final and it wasn't an easy match. As much as everyone thinks that Nick doesn't have care in the game, he has a big tennis brain, so it'd be silly of me if I didn't try to pick it."

The prospect of facing Djokovic looked a distant one soon after midday on a wet and windy opening day with Thompson second-best to 55-ranked Nakashima.

Having lost seven games and 12 points in succession Thompson was two sets and a game down. But he won four of the next five games before taking the third set, then won the fourth on a tie-break.

In the decider the 29-year-old Sydneysider forced a break point to go 4-2 up only for the covers to come on with rain falling.

After a 90-minute wait Thompson won that point, then served out, leaping for joy after winning on his first match point.

Meanwhile, over on Centre Court Djokovic, under the roof, Djokovic was brushing aside Argentina's Pedro Cachin 6-3 6-3 7-6 (7-4).

"Everything would suggest (Djokovic is the best ever), but there are so many guys," added Thompson. Back in the day, [Australian great] Lew Hoad was the best - if you wanted someone to play for your life, you get Lew Hoad.

"But it'd be a tough one to go against Novak. He's won 23 grand slams. He's won this tournament seven times. He wouldn't be a bad one if you had to get someone to play for you."

Thompson, however, will be playing against him.

© AAP 2023

Hollywood superstar Tom Cruise has celebrated his birthday by walking the red carpet in Australia to promote his latest blockbuster.

His assignment? To woo Australian audiences for the seventh instalment of the Mission Impossible film franchise.

It's been 27 years since Cruise first took on the role of spy extraordinaire Ethan Hunt and he shows no signs of slowing down.

In Mission: Impossible Dead Reckoning Part One, the 61-year-old races around the world dodging bullets and weaving through the streets of Rome.

And it's Cruise himself doing the stunts including his most dangerous yet - riding a motorbike off a cliff.

One of the most recognisable names worldwide, the former husband of Australian darling Nicole Kidman said he carved up the terrain doing more than 13,000 motocross rides and fell from the sky more than 500 times.

"As I'm jumping off, so many things can go wrong, and I had to be able to recover very, very quickly because I had six seconds to open up the parachute and eight seconds before I hit the ground," he said during a visit to Sydney.

The Mission Impossible franchise is one of the most successful in history, grossing more than $5 billion worldwide since 1996.

Cruise returns as Ethan Hunt in the two-part movie where he faces the world's most dangerous threat so far: a mysterious and powerful enemy trying to get its hands on a terrifying weapon that threatens all of humanity.

Cruise shares the screen with a star-studded cast that includes Hayley Atwell, Pom Klementieff, Simon Pegg, Rebecca Ferguson and Vanessa Kirby.

The film's sequel is slated for release in 2024.

© AAP 2023