Stumped investors abandoning term deposits: Westpac

Tue, 03 Nov 2020

The pronounced shift away from bank term deposits into transactional accounts reflects the limited options savers have in a low interest rate environment, Westpac New Zealand chief executive David McLean said.Westpac's annual results show money in transactional accounts jumped 46.7 percent to $22 billion, while term deposits fell 8.8 percent to $31 billion.That's an even greater switch than shown in ANZ Bank NZ's results last week. ANZ reported a 35.7 percent increase to $38 billion in transaction accounts and an 8.9 percent fall to...

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Property

Developer Kurt Gibbons buys Ryman’s Newtown site

The land was formerly the site of Wellington's Tip Top bread factory.

Gregor Thompson 10:30am

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QuiznessDesk: Thursday, Oct 31

One Night in Bangkok was a hit song from what musical?By inserting an extra letter, what word meaning a small group of trees can be changed to one meaning a dead body?State Highway 2 between Gisborne and Opotiki passes through what gorge?What was the nickname of a 1940s Hollywood...

The Quizmaster 9:15am