ASB's new one year rate is now 7.25%, up 20 basis points and still the only bank with a one year rate above 7%. ASB's new one year rate is now 36 basis points higher than Kiwibank, 26 basis points higher than its Aussie bank rivals, and 85 basis points higher than Heartland Bank's market-leading rate. ASB's new two year rate is now 30 basis points higher than ANZ, 20 basis points higher than BNZ, Kiwibank and Westpac, and 59 basis points higher than Heartland's market-leading rate. (The one to two year inversion is also unusual at 46 basis points, but that isn't dissimilar to the 40/50 basis points at some other banks). 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 July 03, 2023 19:55 UTC