The Reserve Bank left the Official Cash Rate unchanged yesterday, but many expect it to rise soon. The US is struggling with a political battle over big spending cuts and potential tax increases.

All the while, European economies are are also coping with high debt levels and a lack of confidence in the Eurozone.

How much impact will all this have on the New Zealand economy? Is there really growth in New Zealand at the moment? How is the high dollar affecting the economy?

Westpac Bank chief economist Dominick Stephens came in to for a live chat. See the replay below.