Live: Albanese defends economic record ahead of rates decision

Prime Minister Anthony Albanese has defended the government's economic record from Antigua ahead of the Reserve Bank's interest rates decision today.

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Tue 3 Nov 2026 at 7:03amTue 3 Nov 2026 at 7:03am

Albanese defends economic record in Caribbean, ahead of RBA decision

By Sara Tomevska

Holding a snap pre-interest rate decision press conference in the Caribbean, the prime minister defended the government's economic policies ahead of what's likely to be the RBA's fifth interest rate hike this year.

"My government has made savings in every single economic statement," Anthony Albanese said.

"We work each and every day on cost of living."

Defending his decision to attend the Commonwealth Heads of Government Meeting (CHOGM) in Antigua, the prime minister said it's important to "engage in the world".

"What I recognise as well is that by engaging in the world, we can deal with our national security interests, but also make our economy stronger," he said.

Albanese also denied criticising the Reserve Bank when he described interest rates as a "blunt instrument", the same language used by RBA governor Michelle Bullock.

Tue 3 Nov 2026 at 7:01amTue 3 Nov 2026 at 7:01am

PM urges Commonwealth to 'strengthen democracy,' as he makes UN pitch

By Sara Tomevska

In the wake of a violent attack on independent MP Helen Haines last month, the prime minister has told Commonwealth leaders it's not enough to celebrate democratic institutions, and urged greater action to "strengthen democracy" and protect elected representatives.

As official CHOGM talks got underway in Antigua, Anthony Albanese delivered a wide-ranging speech aimed at progressing Australia's bid for a temporary seat on the UN Security Council from 2029, where he outlined Australia's approach to addressing political violence and rising polarisation globally.

"We must assist smaller nations to develop the democratic, economic, social and climate resilience they need to build a peaceful and prosperous future," he said.

"Australia is responding to global uncertainty by amplifying the voices of small states and middle powers, working to prevent crises, resolve conflicts and protect civilians, and elevating relationships that help to build sovereign capability."

All 56 commonwealth nations are part of the UN General Assembly, and get to vote for non-permanent security council members.

The prime minister also highlighted Australia's role in the middle-power push to regulate artificial intelligence.

The motivations behind the attack on Haines are under investigation.

Tue 3 Nov 2026 at 7:00amTue 3 Nov 2026 at 7:00am

Good morning 👋

By Joshua Boscaini

Hello and welcome to our federal politics live blog! It's great to have you join us here early this Tuesday morning.

I'm Josh Boscaini joining you live from Parliament House in Canberra, here and ready to bring you all of today's federal politics news.

It's rates day and the prime minister has been out in Antigua to get ahead of the Reserve Bank's decision, defending Labor's economic record.

Let's get into the day and see what happens!