DR - Rate Changes

Rates Update: BNZ maintains short term rate leadership

Monday 8th of November 2010

BNZ's move is likely in response to ASB getting competitive in six-month deposits where the bank raised the rate by 20 basis points the week before to 5.10%, matching the rate offered by ANZ.

However, BNZ's new rate is still attractive and offering 5.20% on five-month special term deposits. At the same time, the bank hiked the minimum amount on such deposits to $10,000.

The increa...

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