Tuesday morning, BNZ took a knife to its longer fixed rates, taking all fixed rates three years and longer to under 6%. And BNZ did not announce any term deposit rate changes this time either, although both Kiwibank and ASB did cut term deposit rates. And the carded rates we report here can be different to the rates banks might offer in their banking app. A quick check of the wholesale swap rate chart below gives a clear understanding of where funding costs are heading. Daily swap rates Select chart tabs 1 year % 2 years % 3 years % 4 years % 5 years % 7 years % 10 years % Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA Opening daily rate Source: NZFMA

Source: Stuff August 06, 2024 02:59 UTC