My doctor thinks I'm menopausal brought on by my partial hysterectomy last year, but doesn't want to put me on HRT whilst I'm losing weight, so yes I think it does affect metabolism, however as the women on here with PCOS and thyroid problems will testify weightloss can still be achieved, just a bit harder.
What I didn't get the chance to tell my doctor was that I don't want HRT as my body really doesn't like synthetic hormones.
I believe there's a cream with natural hormones on few side effects, only available on private script.