The Reserve Bank Govenor has defended his support of Labour's budget in front of a select committee after rising the official cash rate once again.
Members of Parliament have spent the morning grilling Adrian Orr over his decision to raise the rate to 5-point-5 percent - although he's signalled he intends to hold it there for a while.
The Reserve Bank also warned that up to a quarter of some household's income will be spent on debt payments by the end of this year, as higher mortgage repayments bite.
Kiwi Bank's chief economist Jarrod Kerr speaks with Charlotte Cook.
