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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Tim Wilson has pushed back on a Liberal backbenchers attempt to prevent his party from adopting a policy of allowing first home buyers to access their super early to buy a home.

Liberal MP Garth Hamilton says he believes there's a majority in the party room who don't want to allow first home buyers to access their super early to purchase a home.

The idea has been floated by senior Liberals, including Wilson, as a solution to help younger Australians get into the property market.

Asked about Hamilton's push on ABC News Breakfast this morning, Wilson says the Coalition's position isn't to be changing super.

But he strongly suggested he's still in favour of allowing early access to super for purchasing their first home.

"I've said consistently that ... the average age of Australian buying a home now is around 40. It's not quite there, but it's nearing there with a 30 year mortgage," Wilson says.

"That means that people are only going to be using super at the start of buying a home, or the end to pay off their mortgage."

Shadow Treasurer Tim Wilson has stepped up on ABC News Breakfast to discuss Australia's inflation and interest rates.

The Reserve Bank will announced its interest rates decision today, just a week after the inflation jumped to 4.3 per cent in September.

He's accused federal government spending of being behind Australia's persistent inflation, and says it predates the war in Iran.

"We know that the Middle East is having an impact on a headline inflation, but that isn't the the metric that the Reserve Bank uses, which is underlying inflation," Wilson says.

"Underlying inflation lifted above the RBA's target band in July of last year, so seven months before a single bomb was dropped on Tehran."

The Coalition has unveiled cuts to climate and housing initiatives, and plans to cut non citizens from welfare and NDIS programs.

But asked if those cuts would also involve public services job cuts, Wilson there will be if "bureaucracy exists and it's not serving a purpose".

Nationals leader Matt Canavan says he's under "no illusions" about his efforts to win the federal seat of Capricornia.

Canavan put his hand up to contest the Central Queensland seat at the next election, after sitting MP Michelle Landry announced her intention to resign.

Yesterday, One Nation leader Pauline Hanson and party director James Ashby both ruled themselves out of contesting the seat, saying they would instead put forward another candidate.

"I'm under no illusions. You're not owed anything in this game. You've got to fight every day to represent the people. It's been a great honour to be a senator for Queensland," Canavan tells Channel Nine.

Anthony Albanese has met with Gaston Browne, prime minister of Antigua and Barbuda, on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM).

The host nation's leader applauded Australia's attendance at the biannual summit, which is the first time an Australian leader has visited the Caribbean in 17 years.

"We are looking forward to repositioning the Commonwealth as a more consequential grouping of nations," Browne said.

"I think with your leadership you can help make CHOGM a force for global good, stability and progress."

Following a major upgrade to Antigua's port, funded by China, Browne said he wanted his nation to become a "gateway for Australian products" into the Caribbean, including wine and beef.

Albanese in turn thanked Browne for his hospitality and said there was "much more we can do together" in relation to climate change.

"We have worked closely with our Pacific island friends on climate change, and we have some smaller islands as part of the Torres Strait that are impacted by rising sea levels."

"There are a range of scientific breakthroughs we're able to help you with including … mapping of reef conditions and what the impact of climate change will be," he said.

Both Albanese and Browne are on the record as wanting to make their nations republics. Browne has also called for reparations as a result of the transatlantic slave trade.

Asked if he supported calls for financial compensation from the UK, to affected nations, Albanese said he looked forward to "respectful discussions between the UK and the countries that are directly involved.

"Australia isn't a direct participant in those discussions, but we want to see them take place transparently and in a constructive way."

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.

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.

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!