NATALIE BARR, HOST: Now, the Reserve Bank has left rates on hold. While that sparked hope we've hit the peak of the cost of living crisis, there could still be tough times ahead with expectations the country is heading for at least a shallow recession.

KARL STEFANOVIC, HOST: Prime Minister Anthony Albanese joins us now from Sydney. PM, good morning to you.

ANTHONY ALBANESE, PRIME MINISTER: Good morning, good to be with you. I am one of millions of Australians who welcomed the decision of the Reserve Bank yesterday.

STEFANOVIC: Look, it’s nothing to celebrate though it is? It’s more of a stay of mortgage execution isn’t it?

PETER STEFANOVIC, HOST: PM, good morning to you. Thank you for your time as always.

ANTHONY ALBANESE, PRIME MINISTER: Good morning, Pete.

STEFANOVIC: So, as you know, people are bleeding cash. Are we now at, or close to the peak of financial pain?

JACQUELINE MALEY, HOST: PM, are you ready?

ANTHONY ALBANESE, PRIME MINISTER: Hang on one tick, are we ready?

Well, thanks so much, John, for that introduction, of which I think two things sprung to mind.

One is I now know why I'm so tired.

And secondly, I think I'll take you around the country to introduce me every time I speak, because that was very, very generous.

I do want to also acknowledge here my Attorney-General Mark Dreyfus, who is doing an extraordinary job.

I want to acknowledge a former Deputy Prime Minister, we're in the former Deputy Prime Minister's club, Mark Vaile and former Speaker Tony Smith.

LEON KEMPLER AM, CHAIR OF THE AUSTRALIA ISRAEL CHAMBER OF COMMERCE: The Prime Minister has agreed to take questions from the floor, which is a great honour for us. And we're going to now move on to a more pedestrian but very important area, and that's about housing affordability. And the question is, it's about supply and demand, and when there's a lack of supply, the price just goes up. We need to build, build and build more housing. In Victoria we get 150,000 new people coming to Victoria, probably need 50,000 more accommodation.

ANTHONY ALBANESE, PRIME MINISTER: Well, it's fantastic to be here at Heffron Park, these amazing facilities that will be a centre of excellence for South Sydney Rugby League Football Club, but also will be a centre for Souths Cares, the charity that takes care of Indigenous young Australians, particularly from regional areas of New South Wales and Queensland. This is also a great centre for the community.

Well, thanks very much.

I begin by acknowledging the traditional owners of the land on which we meet. I pay my respects to their elders past, present and emerging.

I thank Aunty Marcia for the wonderful welcome to country.

And I declare that I'm very proud to lead a Government that will give all of you, along with all Australians, the opportunity to vote for recognition of First Nations people in our Constitution in the last quarter of this year.

Vote Yes.

Prime Minister Anthony Albanese and His Excellency Mr Joko Widodo, President of the Republic of Indonesia, met today in Sydney for the Australia-Indonesia Annual Leaders’ Meeting.

During the meeting, Leaders agreed to practical steps to strengthen the Australia Indonesia relationship to ensure it is ready to meet the challenges and opportunities of the future.

I begin by acknowledging the traditional owners of the land on which we meet and I pay my respects to their elders past, present and emerging.

I’m proud to lead a Government that will give every Australian the opportunity to vote for Constitutional recognition of Aboriginal and Torres Strait Islander people in a referendum in the last quarter of this year.

On that note, I want to thank the AFL and the Swans for their longstanding support for Constitutional Recognition and their public backing of a Yes vote.