Low interest rates kill Bonus Bonds - bye boomers

Wed, 26 Aug 2020

ANZ has announced it will kill off its Bonus Bonds Scheme and stop taking new money. What finally put the nail in the coffin for this outdated scheme? Low interest rates. In a statement on Wednesday morning, ANZ Investment Services (a subsidiary of ANZ Bank) said low interest rates continued to reduce the prize pool. “It has now become apparent those trends are likely to continue in the medium term. The official cash rate, currently at a historically low 0.25 percent, may fall further in early 2021 as the global economy grapples with t...

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