Australia is on the 'brink' of a recession

Former Labor senator Stephen Conroy discusses the Australian stock market's loss of $100 billion, falling more than 12 per cent, and what it means for Australia's interest rates. "Let's be clear I have said it many times Reserve Bank has got it wrong, it's got it wrong for the last 12 months," Mr Conroy told Sky News host Andrew Bolt. "It put too many interest rate increases into the system and now it's being stubborn and won't accept that it has tanked the Australian economy. "The economy is on the brink of recession the market has now caught up with the economic statistics."

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