The Reserve Bank says more OCR hikes are "likely", but it doesn't know how many more will be needed, or when they're likely to happen.

The central bank's raised the cash rate to 2.5% – the first hike in more than three years.

It wants to get the OCR back to a "neutral" level that doesn't contribute to inflation.

ASB Chief Economist Nick Tuffley told Ryan Bridge they believe the bank will steadily lift interest rates over the rest of the year – bringing the cash rate back to 3.25% by the end of the year.

He says there is a chance they’ll pause along the way, but having done one, they think it’s very likely they’ll follow through in September.

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The Hurricanes' rampaging success in this year's Super Rugby championship may have helped the All Blacks sell out the Cake Tin.

Around 34 thousand people are expected at Hnry Stadium on Saturday as the All Blacks take on Italy.

The game had initially struggled to sell out, with four thousand tickets still available at the end of last week.

Hurricanes Chairman Malcolm Gillies told Ryan Bridge there are 11 Wellington players in the All Blacks, and hopefully the Hurricanes' style of rugby carries over.

The team's on-field Super Rugby success also looks to have influenced a major breakthrough off the field.

The 2026 champions have had a troubled period financially – posting consecutive annual losses, including a $2 million deficit last year.

But Gillies indicated that things are at last heading in the right direction.

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There's a suggestion a level playing field between gentailers and retailers is needed before homes switch to solar.

Election policies of National and Labour would both let homeowners pay back low interest loans for solar through their rates.

Labour's plan would also let local line companies provide loans, repaid through power bills.

Director of solar company Lightforce John Harman told Ryan Bridge fair prices are needed for renters and low income homes to make the change.

He says companies are making record profits from New Zealanders with high power prices and that's not going to stop.

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The problem with bashing the Reserve Bank of New Zealand in real time is that nobody really knows how badly they might have cocked something until well after the cocking's happened.

There weren't many —though not none— chiding Orr for low rates until it was bleedingly obvious in actual data, and what Prince Harry would term 'lived experience', that prices were on the march.

The RBNZ has decided to hike now. They'll probably do another one in September, assuming Trump's ceasefire pause is just that, and beyond September is anyone's guess.

One argument is that they'll hike in September, hold in October ahead of the election in November, then stick their finger in the air for December.

Either way we're heading towards either 2.75% or 3% by Christmas.

Most of this has been priced into wholesale rates.

The justification for the hike, as has been pointed out by a couple of economists, is it's easier to swallow.

For them to come out and say "we're hiking now because the economy is on the up, plus a bit of war pricing potential", that's a lot easier to stomach than "we're hiking now and there's no growth - welcome to stagflation nation".

Tony Alexander makes the point that the bank has been criticised in the past for hiking too late, letting prices get away, then overcorrecting on rates, plunging us into a deep and uncomfortable recession.

Given they're now moving relatively early, they can move and wait and see and (hopefully) avoid the same mistakes.

I like to believe Tony's predictions. And I hope he's right.

Managing the OCR is driving a rental car - you're unfamiliar with the pedals. Push too hard either way and you can quickly end up wrapped to lamppost or hit in the head by an airbag.

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On the Early Edition with Ryan Bridge Full Show Podcast Thursday the 9th of July 2026, The Reserve Bank has finally pulled the trigger and hiked the OCR 25 basis points, ASB Chief Economist Nick Tuffley shares his thoughts.

Labour's released a similar solar policy to National, John Harman, Director of Lightforce Solar tells Ryan which policy is better.

Wellington's Cake Tin is officially sold out ahead of the All Blacks test against Italy on Saturday, Hurricanes Co-Owner & Chairman Malcolm Gillies shares his thoughts.

Plus, US Correspondent Mitch McCann has the latest on what Trump's said at the NATO summit in Turkey and a New York building collapse.

Get the Early Edition Full Show Podcast every weekday on iHeartRadio, or wherever you get your podcasts.

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Sky TV is inking a deal with the NRL.

They’ve locked in exclusive broadcast rights for the next seven years, the deal running from 2028 to 2034.

It’ll broadcast on their Sky Sport paid platform, with free to air options rumoured to come.

NZ Herald Media Insider’s Shayne Currie told Ryan Bridge that Sky has essentially claimed the top three sports for at least the next five years – NRL, rugby, and cricket.

He says these lengthy deals for the really fan-engaging sports are going to leave TVNZ scrambling to pick up whatever it can for its fledgling digital subscription model.

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Donald Trump's floating the idea of selling F-35 fighter jets to Turkey, despite a Congressional ban.

The US President is in the country alongside other European leaders for a NATO summit – our Defence Minister Chris Penk is also heading there for the NATO Defence Industry Forum, and meeting counterparts from allied countries.

Trump's suggested lifting US sanctions imposed on Turkey and a ban on F-35 sales for its purchase of a Russian air defence system, saying it’s been a loyal ally.

The Guardian’s Ruth Michaelson told Ryan Bridge that everything Trump has said indicates he wants the sale to go ahead – whether Congress will allow it is another question.

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There's division over whether the Official Cash Rate will be hiked or hold steady at 2.25%.

ANZ and BNZ are both picking it will be raised by 25 points.

NZIER is expecting the Reserve Bank's board to be split and for Governor Anna Breman to make the captain's call on it.

NZIER Senior Economist Ting Huang told Ryan Bridge her own group had mixed views but one prevailed.

She says the majority of members thought holding it at 2.25% was the best option.

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