Kiwibank boss calls for no more rate hikes

Kiwibank's half-year profit hit a record high of $105m. (Image: Kiwibank)

Thu, 22 Feb 2024

The chief executive of New Zealand’s state-owned bank, Kiwibank, is calling on the Reserve Bank to stop hiking the official cash rate.“It must get to a point at some stage where you have to recognise the brakes have been on for a lot of people and stamping on the brakes isn’t the right plan,” Steve Jurkovich told the Herald, following the bank reporting a record high half-year profit.While he didn’t believe high interest rates would suddenly push the economy off a cliff, he could see them continuing to grind people...

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