The recent OCR hike by 75 basis points to 4.25 percent may spell out a concerning future for the economy, especially when paired with predictions for 2023.

But NZ Herald business editor Liam Dann isn't too concerned about these statistics because these rates going high isn't exactly new territory.

Liam Dann says a recession, or at least an economic downturn is looking likely, but economists have made incorrect forecasts and predictions before.

LISTEN ABOVE

• Kiwibank increases variable home lending rate in wake of OCR hike
• NZ Herald business editor explains what OCR hike means for financial markets
• RBNZ Governor: We've struck the right approach with latest hike to interest rates