Kiwibank lifts deposit rates but sees no rate hike until 2023

Mon, 11 Jan 2021

Higher interest rates are on the cards but don’t hold your breath. Kiwibank lifted its term deposit rates – for the first time since February 2020 – against a backdrop of an improving NZ economy and as offshore worries about price pressures send US Treasury yields higher. Both are signs of higher rates to come.Any business, portfolio investment entity, or retail 200-day term deposits over $10,000 will now earn 1 percent versus the prior 0.9 percent. The rate lifts to 0.9 percent from 0.8 percent for deposits of $5,000 to...

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