Prime Minister Anthony Albanese has welcomed the interest rate cut, highlighting its benefit for mortgage holders. In a post on X, he noted that inflation has dropped from over 6% at the last election to 2.4%, crediting Australians for their hard work in achieving this progress. While calling the rate cut a sign of improvement, Albanese acknowledged that more work remains and assured that further support is on the way.
Earlier, Albanese joined ABC Sydney’s morning show, covering a range of topics, including the Reserve Bank’s stance on interest rates, ongoing cost-of-living relief, and a recent rise in opposition polling.
Albanese stressed the importance of the Reserve Bank’s independence, acknowledging public pressure on interest rates but maintaining that the Bank’s decisions would be based solely on economic factors. He noted that inflation has dropped significantly from a six-figure rate when the government took office, now sitting at 2.4%.
Despite positive economic figures, Albanese addressed concerns about whether relief measures were reaching Australians, especially in light of recent polls indicating a potential win for the Coalition in a hypothetical election. He highlighted the cost-of-living measures his government has introduced, including tax cuts, cheaper child care, and energy bill relief, and took aim at Opposition Leader Peter Dutton’s opposition to these initiatives.
Albanese also reiterated his commitment to strengthening Medicare, pointing to the government’s efforts to reverse the decline in bulk billing, which had worsened during Dutton’s tenure as Health Minister. He rejected accusations of misinformation, stressing that the government’s policies were grounded in fact.
On the issue of the ongoing train disruptions in Sydney, Albanese clarified that the dispute was a state matter, but expressed his support for the NSW government’s efforts to resolve the issue. He urged the unions to settle the dispute for the benefit of commuters.
Lastly, Albanese expressed his concerns for Australian prisoner of war, Oscar Jenkins, after a video surfaced showing him alive in Russia. The Prime Minister confirmed that representations had been made to both Russia and Ukraine, urging for Jenkins’ safe return.
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