Macquarie says Australian banks are profiting from low term deposit rates

Macquarie says Australian banks are profiting from low term deposit rates
Macquarie suggests banks have seen a big increase in their term deposit spreads as swap rates have risen faster and higher than term deposit rates. (Image: File)
Dan Brunskill
The Financial Market’s Authority’s annual investor survey last week showed that for the first time ever direct equity investments are now more common among New Zealanders than term deposits. This is likely partly due to the increased accessibility of shares and managed funds – thanks to the dawn of retail platforms – but has also been driven by ultra-low interest rates which have forced investors to seek yield elsewhere. However, Australian researchers think term deposit rates may be lower than market condition...

More Finance

JPMorgan fined US$350m over compliance failures
Finance

JPMorgan fined US$350m over compliance failures

Federal regulators allege finance giant didn’t properly monitor trades.

Bank margins improve in 2023
Finance

Bank margins improve in 2023

NZ banks continued to be highly profitable against global metrics.

Pattrick Smellie 13 Mar 2024
He lost $816,000 on bitcoin. Now he’s celebrating
Finance

He lost $816,000 on bitcoin. Now he’s celebrating

The believers who rode bitcoin to an all-time high – and the ones who missed out.

Lessons from a global scam buster
Finance

Lessons from a global scam buster

Losses to NZers from online scams are currently estimated at $200 million annually.

Victoria Young 05 Mar 2024