
DR - Rate Changes
Second cut to long-term bank TD’s
Monday 9th of August 2010
BNZ has cut its five-year deposit rate by 25 basis points at the close of last week. This is the BNZ’s first rate change for this term this year. Its last change was a 10 point reduction mid way through December last year. BNZ’s latest change, however, is only the second change made this year by a retail bank to this long-term rate. The first change was only at the end of last month by ASB.
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