Julia Gillard has welcomed the news that the Reserve Bank has kept interest rates on hold, saying tis thanks to Labor's good economic management.
Gillard told a press conference that the unchanged rate was good news “for families and businesses around the country that are doing it tough”.
She said the Labor party had inherited inflation at a 16 years high when it took power from a Coalition government of which opposition leader Tony Abbott was a senior member.
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Gillard also noted that with inflation levels at 2.7 per cent, within the RBA's guidelines, the country had come through the global financial downturn in good shape.
“If we'd done what Abbott advocated we'd be in recession now, instead we have the better economic plan to bring the budget back to surplus in 2013,” she said.
