Article #976496040
Tuesday, December 8th 2009, 7:36AM
BNZ has increased its six-month rate by 25 basis points for both its Standard/Fly Buys and GlobalPlus products. The new rates are 5.75% for the Standard product and 5.85% for the GlobalPlus product. These rates are still well below ANZ and ASB's six-month rates. Westpac is leading the charge with a 5.49% rate for the same term.
Housing NZ Corporation tweeked its five-month rate yesterday by increasing it 5 basis points to 8.65%. This new rate is still lower than the rates offered by six of our banks.
In Experts Views this week our economists tell how NZ's health has been lucky enough to stay out of "intensive care" and the sweet spot that our central bank is currently in.
Also, we have Kiwibank's latest results that show it accounted for 40.1% of new lending by registered banks in the September quarter.
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