Kiwibank cuts deposit rate as it raises most mortgage rates

Fri, 16 Jul 2021

Kiwibank is cutting its 200-day term deposit rate on the same day it hiked most mortgage rates.The government-owned bank issued a press release touting a cut in its two-year rate and did acknowledge it was hiking its floating mortgage rate but didn't mention the other rate changes.Chief executive Steve Jurkovich said the bank's cut in the two-year rate is "providing certainty to its customers" in a rising rate environment.But he left the other changes to the bank's routine technical releases.Effective Monday, Kiwibank will...

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