Tense moment One Nation state leader snaps back at reporter when he can't recall the cash rate on live TV... but shouldn't he know it?

One Nation Victorian leader Warren Pickering became agitated after he failed to correctly identify the Reserve Bank's cash rate when grilled by Sharri Markson.

Pickering said Victoria's cost-of-living crisis was the state's most pressing issue when he appeared on the reporter's News24 show on Wednesday night, but struggled to name the exact figure when Markson repeatedly pushed him.

The Reserve Bank of Australia increased the cash rate by 0.25 basis points to 4.85 per cent on Tuesday, which is the highest level in almost 18 years. 

Pickering replied '5 per cent' after Markson insisted he give a figure.

'It's not 5 per cent. Do you know what [Governor Michele Bullock] raised it to yesterday?'

A clearly frustrated Pickering ignored the question and returned to the political message he was trying to push.

'Like I said, Sharri, the problem is here in Victoria the single most important issue affecting families across the country is the cost-of-living crisis,' he said.

'It's the cost of groceries. It's the cost of fuel, and it's the cost of their rent and their mortgages.'

Sharri Markson (pictured) pressed Pickering on what the cash rate was after Tuesday's hike

Pickering argued Victorians were under huge financial pressure and claimed the state was experiencing record levels of housing stress.

'We're seeing Victoria specifically has now officially the most mortgage stress and rental stress in the Southern Hemisphere,' he said.

'That is not good enough.'

Markson wouldn't let her question go and pressed him again, asking whether it was acceptable for a politician campaigning to become premier not to know the cash rate.

Pickering explained he had been on the campaign trail and his priority was Victorian families rather than economic statistics.

'I am campaigning about 18 hours a day,' he said.

'My issues right here, right now are the Victorian people. That's who I intend to represent.'

The awkward exchange was similar to Prime Minister Anthony Albanese's infamous 2022 election campaign stumble.

Warren Pickering (pictured) said he was focused on the issues of the Victorian people 

Then Opposition leader, Albanese was unable to recall either the official cash rate or the national unemployment rate during a press conference in Launceston.

At the time, Albanese incorrectly suggested the unemployment rate was 5.4 per cent instead of 4 per cent and could not immediately identify the cash rate, which stood at 0.1 per cent. 

He later corrected the record and told reporters: 'I'm human.'

Pickering's interview this week also saw him defend One Nation's refusal to release detailed policy costings, despite claiming the party has completed the work internally.

He argued government cost estimates have proven unreliable and said Victorians are more interested in spending cuts than forecasts.

'Policy platform is not about costings, it's about savings,' he said.

'We are running a zero-based budget, that means we intend to blow the books wide open and rebuild the budget from absolute scratch.'

He pointed to major infrastructure blowouts, including Victoria's West Gate Tunnel project and Snowy Hydro 2.0, as evidence forecasts cannot be trusted.

RBA Governor Michele Bullock raised the cash rate on Tuesday to 4.85 per cent

Under the party's Real Deal for Victoria policy platform, One Nation has pledged to abolish payroll tax for regional Victorian businesses while lifting the payroll tax-free threshold for metropolitan employers.

The party has also promised to wind back Labor's land tax increases on rental properties, arguing the changes have contributed to rising rents.

Other headline commitments include scrapping the 10 per cent insurance duty on home, contents and motor vehicle insurance, reversing Victoria's ban on gas connections in new homes, and introducing a 'Victorian gas for Victorians first' policy.

One Nation has also vowed to abandon the state's net-zero emissions targets and associated subsidies, while cancelling the VNI West and Western Renewables Link transmission projects.

The latest Roy Morgan poll shows One Nation continuing to poll at record highs, polling at 22 per cent across Victoria. 

Labor meanwhile is down on 22.5 per cent, while the Coalition remains in front at 29.5 per cent. 

Should politicians be expected to know economic details like the cash rate, or focus on real-life issues?