Michael Gordon: Westpac economist on borrowing costs being highest in a decade while sales now lowest since GFC

Westpac's economic overview shows we are still weathering the storm. With high levels of inflation and consumer prices rising by 7.2 percent, households are having to squeeze their spending. Borrowing costs are at their highest level in more than a decade, while sales are now at the lowest since the Global Financial Crisis. And the added heat of the cyclone is pushing even more pressure on the economy. Westpac acting chief economist Michael Gordon joined Mike Hosking. LISTEN ABOVE  See omnystudio.com/listener for privacy information.