Rachel Mealey: There’s been a spike in corporate insolvencies as businesses feel the pressure from higher interest rates and a slowing economy. And there could be worse to come if rising inflation forces the Reserve Bank to hike interest rates again next month. For more, I spoke earlier with the ABC’s senior business correspondent, Peter Ryan. Peter, we were talking about the rising pressures on businesses this time yesterday. How do these new insolvency figures add to concerns about the economy?
Peter Ryan: Well, Rachel, the corporate regulator ASIC has released its annual insolvency report for the last financial year. Now, this shows more than 11,000 companies entered external administration. That’s a sharp rise from the previous year…
