Retailers worried about rising crime and lower spending

Retailers are dealing with a dual crisis of rising crime and a rising Official Cash Rate.

A shopkeeper in Sandringham, Auckland was fatally stabbed on Thursday morning.

And the Reserve Bank has lifted the official cash rate, again, to 4.25 percent - the highest level since 2008.

The bank's governor says New Zealanders need to rein in their spending.

Retail NZ chief executive Greg Harford spoke to Kim Hill.