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Bank deposit costs soar above wholesale funding, RBNZ says
Thursday 10th of September 2009
Yields on term deposits have jumped to between 100 and 150 basis points higher than wholesale yields, according to central bank Governor Alan Bollard's latest monetary policy statement. That's up from being 50 points below wholesale yields in the middle of 2008.
"Increased competition among banks, non-bank deposit takers and corporate bond issuers for deposit funds have all contributed t...
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