Adrian Orr believes he's struck the right approach with the latest unprecedented hike to interest rates.

The Reserve Bank Governor has lifted the Official Cash Rate by 75 basis points, to a 14 year high of 4.25 percent.

Orr is warning the country could be in recession by the middle of next year, and the OCR may have to peak at 5.5 percent to get inflation under control.

While some have accused him of overcooking things, and others will accuse him of not being aggressive enough, Orr told Mike Hosking the decision has been carefully thought out.

He says the central bank considered a 50, 75 and 100 basis point rise, favouring a higher rise over a lower one.

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A call for employers to take more precautionary action, as supermarket crime soars.

Since 2020, Foodstuffs says there's been a 246 percent rise in serious crime.

The company has confirmed 29 of its supermarkets in the North Island are using facial recognition technology, prompting concern Foodstuffs is collecting sensitive information about shoppers without their knowledge.

First Union General Secretary Dennis Maga told Kate Hawkesby facial recognition may help, but won't be enough to deter offenders.

He says they'd like employers to hire loss prevention officers, train staff how to de-escalate a situation - and make sure there is enough staffing in the workplace. 

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Is the Reserve Bank raising the Official Cash Rate too far, too fast?

The central bank has lifted the OCR by an unprecedented 75 basis-points to 4.25 percent and is forecasting the country could be in recession by the middle of next year.

It's also warning the OCR may have to peak as high as 5.5 percent to bring inflation under control.

But Jarden Investment Strategist and Economist John Carran told Mike Hosking international inflation pressures appear to be starting to ease.

He says there are real signs global inflation pressures are starting to ease, with shipping costs coming off and oil prices coming down.

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National is adjusting its tax plans, heading into next year's election.

The party is reviewing its policies following the Reserve Bank's unprecedented OCR hike yesterday and its warning of a pending recession.

Finance Spokesperson Nicola Willis says plans to cut the top tax rate may no longer be affordable.

But she told Mike Hosking National still wants to index tax thresholds to inflation, and other parts of the tax policy remain on the table.

Willis says National will continue to focus on tax reduction for the squeezed middle class.

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Over in Wellington, the Building Nations infrastructure conference is underway, and set to continue on for the rest of the week. 

Infometrics Principal Economist Brad Olsen has observed from this conference that the infrastructure sector is the latest among many requiring investments for long-term projects.

Brad Olsen says that the vibe of the conference is optimistic, but people are aware that these projects will require a lot of investment for the future, and time isn't on everyone's side thanks to regulations and the state of the economy.

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The Hawkes Bay could be lining up for an economic boost.

Japanese-owned company Tatsumi Limited is constructing a mega glasshouse in the hope of producing millions of strawberries all year round.

Japan and China will make up the main export markets.

Project director for the build, Mike Harper joined Kate Hawkesby.

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A word of caution as cyber scammers continue to lift their game to target unsuspecting victims.

The Government’s cyber security agency has recorded a  “massive” jump in online fraud.

Data obtained by the Herald from CERT NZ shows scammers have drained nearly $9 million from unsuspecting victims in just three months.

CERT New Zealand Threat and Incident Response Manager Jordan Heerspring told Mike Hosking it's easy to blame people who fall for these scams, but a lot of fake websites are set up well.

He says the people doing this are professional criminals who know what they're doing when copying real websites.

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The jobs market is remaining buoyant, despite a small decrease in listings.

The latest Seek Employment Report shows job ads fell one percent between September and October.

But they're up 16 percent compared to October last year.

Hospitality and Tourism, Trades and Services and Retail and Consumer Products have had the largest monthly falls.

Seek Country Manager Rob Clark says the number of applications per job has increased.

He says that's good new for employers, but overall it's still a job seeker's market.

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Today's Reserve Bank decision on the Official Cash Rate is almost certain to be historic.

The central bank is expected to raise the OCR by 75 basis points today, the highest rates hike ever.

That would bring the rate to 4.25 percent, it's highest point in 14 years.

ANZ Chief Economist Sharon Zollner told Mike Hosking there's a small chance they will go even further, and raise the OCR by truly unprecedented one-percent, to 4.5 percent.

The OCR is now expected to peak above five-percent.

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Ice cream company Tip Top has pulled one of its challenges from its new promotional campaign after sparking significant backlash.

The company's latest campaign encourages Kiwis to try something new, of the 32 different messages printed on the sticks, one reads to "take a selfie with a stranger".

Tip Top is now removing the stick from their Popsicle range, and apologised.

AUT marketing expert Bodo Lang told Kate Hawkesby they've done the right thing.

He says the company jumped on the matter quickly once the complaints surfaced.

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