Opposition Leader Malcolm Turnbull says Australians should be feeling confident about the economy, as financial regulators have been making the right moves.
The comments come just days after the Reserve Bank dropped official interest rates by one per cent, to shield borrowers from the global financial crisis.
Mr Turnbull has told 2GB Philip Clark he has great confidence in the RBA.
"They've managed this crisis and providing liquidity to institutions, the big rate reduction I think was the right move."
"I'm confident that our regulators and our central bank are doing a good job and I think Australians should be confident in our financial system."
Earlier today Prime Minister Kevin Rudd welcomed predictions that Australia's economy will continue to grow, despite the global financial crisis.
The International Monetary Fund says Australia's economic growth will almost half but says the country will continue to grow above 2 per cent a year.
Mr Rudd says Australia is well placed to weather the global economic turmoil.
"It contains within in it disturbing news for the global economy," he noted.
"The IMF states that the major advanced economies are already in, or close to, recession.
"For Australia the IMF World Economic Outlook document provides a much stronger prognosis."
Mr Rudd’s optimism was bolstered by relatively positive employment data released today.
The latest jobs data from the Australian Bureau of Statistics shows that 2,200 new positions were created in September.
The unemployment rate has risen to 4.3 per cent, evidence the slowing economy is pushing people out of the workforce, but not in significant numbers.