News Round Up: January 23
Borrowers can relax as rate rise unlikely
With consumers keeping a tight rein on their wallets and concentrating on paying off debt rather than borrowing more, Reserve Bank governor Alan Bollard won't be raising rates this week, economists say. [Read On]
TSB moves to fill Macquarie GEAA void
Macquarie's closure of the Gilt Edged Access Account has allowed TSB Bank to step up and promote its Premier cheque account.
The TSB premier account has a lot of similar features to the GEAA, interest is paid on balances over $5,000 (on a sliding scale) and no fees are charged if the monthly balance is above that level.
Money People's Peter Hensley said , "Once we made the decision to move, the local TSB branch has been extremely helpful in assisting our clients to open accounts. They have also credited each account with $100 as an incentive to choose them over their rivals."
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