Prime Minister Anthony Albanese claims positive signs for economy after rate rise pause

Prime Minister Anthony Albanese insists there are positive signs for the economy, after the Reserve Bank of Australia opted to hold the interest rate steady yesterday.

Economists are forecasting further pain for mortgage-holders, with rate rises likely next month and September.

The RBA has also indicated the pause on rate rises will not be long-lasting.

READ MORE: Family scrambles to bring critically ill Aussie dad home from Bali

Albanese claimed things were improving for many Australians.

"The fact that interest rates were paused yesterday at 4.1 is a good thing," he said on Today.

"You have a two-speed economy. Some people are doing it really tough.

"Then you have positive signs at the same time."

READ MORE: 'RBA must take responsibility for their poor insight'

He pointed to "record" jobs growth of 465,000 in his government's first year, along with a decrease in inflation.

"It peaked at the end of last year," he said.

He also cited the budget surplus of $2.4 billion.

READ MORE: Major snowfalls on the way for south-east

"I get that people are doing it tough. For me this isn't about politics, this is about assisting people," Albanese said.

"I know what it's like to do it tough. And I get that people out there are under pressure."

He claimed the government's measures in childcare assistance, tripling the Medibank bulk-billing incentive, fee-free TAFE, and energy price relief were helping to put downward pressure on inflation.

Sign up here to receive our daily newsletters and breaking news alerts, sent straight to your inbox.