The Prime Minister has attacked Opposition Leader Brendan Nelson over comments he made in relation to potential interest rate cuts.
Dr Nelson has suggested the Reserve Bank cut the official cash rate by up to 0.5 per cent but then said he wouldn't pressure the RBA if he was Prime Minister.
Kevin Rudd said the comments show the Opposition has no economic credibility.
"Basically what we've now got is the new Nelson doctrine: What I said in the Opposition has nothing whatsoever to do with what I do in government," Mr Rudd said.
"In other words, the overall dictum of those opposite is to say anything, to do anything, to promise anything in order to get themselves a headline."
Meanwhile there is good news on the cards for mortgage holders, with economists tipping tomorrow's expected interest rate cut will be the first of many.
The Reserve Bank is almost certain to drop the cash rate by a quarter of a per cent.
While St George is the latest bank to cut its fixed home loan rate ahead of the announcement.
Commsec economist Craig James says other lenders will act quickly.
"There's no major force except for competitive pressures and clearly institutions want to have the lowest interest rate possible out there so that they can get the business coming in the doors."