Barry Soper: Newstalk ZB senior political correspondent on the Government hiking the OCR to 2.75 percent

The Reserve Bank has raised the Official Cash Rate 25 basis points, from 2.5 percent to 2.75. The Monetary Policy Committee agreed unanimously to the rise, broadly expected by economists and the market. Newstalk ZB senior political correspondent Barry Soper says this could have an immediate impact on retailers, as people will now have less money to spend in stores.  LISTEN ABOVESee omnystudio.com/listener for privacy information.