Rising interest rates will affect people, bring inflation down

Treasury's audit of the government's books released yesterday found things in a better state than had been anticipated given the massive Covid spend and the global volatility affecting markets. Final accounts for the year ended June show a deficit of 9.7 billion dollars compared with forecasts in May of a deficit of more than 19 billion, and the previous year's 4.6 billion dollar shortfall. Nick Truebridge discussed this with the Finance and Deputy Prime Minister Grant Robertson - he started by asking him about the Reserve Bank raising interest rates yesterday - again.