In this week's episode of Relative Return Insider, hosts Maja Garaca Djurdjevic and Keith Ford take a look at the Reserve Bank's expectation-defying interest rate hold and whether the move is the start of a fundamental change in the central bank's approach.

The surprising move left many economists and home owners, as well as Treasurer Jim Chalmers, disappointed and has been described as a significant shift in the RBA's communication strategy, with RBA governor Michele Bullock explaining the decision was influenced by ongoing concerns about inflation and increasing global uncertainties.

Tune in to hear:

• How economists are recalibrating expectations, with some believing this marks a "new RBA" with limited forward guidance.
• Whether the bank's inflation concerns are in line with earlier talks of larger rate cuts.
• How US President Donald Trump's new tariffs on copper and pharmaceuticals are adding to global market volatility and uncertainty.