Nicola Willis: Finance Minister on the OCR announcement and the responsibilities of the Reserve Bank

The Mike Hosking Breakfast

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26d ago 3:44

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The Finance Minister says the economy is in a very painful spot for many people.

The Reserve Bank has again held the OCR at 5.5%, where it's been for a year.

It means interest rates may have to stay higher for longer.

Minister Nicola Willis told Mike Hosking that the Government's made it clear Adrian Orr needs to get inflation back into the target band.

She says the Government has to do its bit to make sure its policies are more friend to him than foe, so he doesn't have to go as hard as he may otherwise.

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