AS was widely predicted the Reserve Bank has raised the official cash rate to 2.5 percent
It's the highest rate since 2016 and more are promised as the bank tries to get inflation under control.
Photo: 123rf
Adding to the economic woes, New Zealanders on average have spent an extra $4000-$5000 in the past year on basics including food, rent and fuel.
Financial commentator and editor of the newsletter The Kaka Bernard Hickey joins Karyn to explain what is going on
