RBNZ: new rules will mean lower interest rates for borrowers

However, the full regulatory impact statement (RIS), a detailed implementation plan and other technical papers won’t be released until February.

The summary of the cost-benefit analysis (CBA) released today found that the net annual benefit to the New Zealand economy will range between 0.2% and 0.19% with a central estimate of 0.12%.

The size of NZ’s economy at June 30 was about $435 billion.

The smaller and mid-sized deposit takers should see a proportionately larger reduction than the four largest banks, says RBNZ governor Anna Breman.