Looking at BNZ's new rates
Friday, December 2nd 2011, 5:39AM
BNZ's move yesterday was interesting. It cuts shorter term fixed rates out as far as the two year maturity, but increased its TotalMoney rate. None of the fixed rate cuts put it into a market leading position. The most competitive is arguably the two year rate. To see how it stacks up with competitors we have sorted the table lowest to highest on that term here. Have a look.
Increasing Total Money, which is the floating rate on its offset product, is a little harder to fathom as there is no upward pressure on rates at the moment. The one observation is that its rate is 24 points higher than Kiwibank's offset product.
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