‘Economy could come crashing down’: Alarm bells ring for Australians after rate hike

Sky News Political Editor Andrew Clennell weighs in on the recent RBA decision to hike the cash rate to 4.1 per cent.

“The government, but not only the government, but the Australian public also has to hope that this war ends soon,” Mr Clennell told Sky News Australia.

“The government, in my view, has to think about cutting petrol excise because petrol influences so many price points … well then, the entire economy could be coming crashing down.

“Even with low unemployment, we could be looking at the R [recession] word.”