Some good news, and some bad news, from the Reserve Bank.

The central bank has hiked the Official Cash Rate by a further 25 basis points to 5.5 percent.

But it's also indicated no further hikes are likely, before the OCR starts coming down towards the end of next year.

Weakening is already being felt in the retail sector, where new figures show spending is continuing to slide.

Retail NZ Chief Executive Greg Harford told Kate Hawkesby the OCR hike will push spending down even further.

LISTEN ABOVE

Some good news, and some bad news, from the Reserve Bank.
The central bank has hiked the Official Cash Rate by a further 25 basis points to 5.5 percent.
But it's also indicated no further hikes are likely, before the OCR starts coming down towards the end of next year.
Weakening is already being felt in the retail sector, where new figures show spending is continuing to slide.
Retail NZ Chief Executive Greg Harford told Kate Hawkesby the OCR hike will push spending down even further.
LISTEN ABOVE

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.

A fresh and intelligent start to your day - catch the very latest international and domestic news developments, sport, entertainment and business on Early Edition with Ryan Bridge, on Newstalk ZB.