For the first time in four years, the Reserve Bank of Australia has cut the official cash rate from 4.35% to 4.1%.

Perth Live host Oliver Peterson spoke to Prime Minister Anthony Albanese about what this cut will mean for Australians and the cost of living.

“What we’ve managed to do is to get inflation down, wages up, unemployment is low and now interest rates have started to come down to, so that is a good quadrella that is welcome news for Australians,” he said.

Click PLAY to hear the full interview.

Image: Getty/Matt Jelonek