Mortgage interest rates have hit 6 percent for four-year fixed terms. Finance Minister Grant Robertson speaks to Morning Report about rising rates and inflation.
Watch Grant Robertson speaking to Morning report here shortly:
The Reserve Bank of New Zealand (RBNZ) earlier this month stepped up the battle against inflation with an increase of half of a percentage point in the Official Cash Rate (OCR) to 1.5 percent, with a warning that further rises are coming.
Food prices were 7.6 percent higher in March than the year before - the biggest annual increase in more than a decade.
More to come...