Australia is almost ‘grinding to a halt’ with inflation

Sky News Business Editor Ross Greenwood says Australia is almost “grinding to a halt” due to its inflation.

“Notwithstanding the fact that the economy is barely teetering above a recession right now with the last quarter just 0.1 of a per cent – in this quarter probably negative,” he told Sky News host Steve Price.

Australia is almost ‘grinding to a halt’ with inflation

“The reality is that you’d expect under normal circumstances the Reserve Bank would come to the rescue, start to cut interest rates and get some economic growth going – well it can’t do that right now.”