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ASB lifts some deposit rates as market expects OCR hikes next year
ASB has again moved first to increase its interest rates, although this time it is its deposit rates. ASB announced late on Friday it had raised its 90 day term deposit rate to 4% from 3.75% and had raised its one year rate to 5% from 4.55%. The new rates apply to both ASB and its online unit BankDirect.
ASB's rate hikes follow further increases in wholesale interest rates this week in anticipation that the Reserve Bank will begin hiking the Official Cash Rate aggressively from early 2010. ASB increased its fixed mortgage rates last week, sparking a fresh round of rate hikes by others.
See here for all interest rate comparisons for up to 1 year and for 1 year and over.
See here for an interactive chart of wholesale swap rates.
5 Comments
Has anyone taken up any
Has anyone taken up any of the ASB's Work making loans, 2 billion available I believe??.
Maybe we need to collectively invest in a Tyre Business, or for that matter other cast off manufacturing or infrastructure necessities to keep ASB & Aussie and NZ going, should any conflict arise.
Maybe the ANZ and WESTPAC need a fund too.
Maybe we should have invested in real "Manufacturing Businesses" and not just houses over the past decades for Capital Gain.
Correct me if I am wrong, did Helen & co, just think that the world was so safe from Despots that a capable force with infrastructure, firmly behind it, was unnecessary.
Can this be why we are vulnerable and it is getting worse as we lose more and more capabilities with each generation and more and more wasted funds with each day.
Is there a THINK TANK in NZ that has any input into a possible remedy. Or have they flown the coop.
Or is RUGBY the only main topic on peoples minds as well as Tax avoidance schemes for the Boys.
I do not mind losing at Rugby so much. I know that is heresy for the National game. A defeat and 40 million loss is peanuts, compared to other possibilities.
There are bigger items on the horizon in the East, perhaps.
We cannot just rely on America and Britain as it sinks in the West.
Capital Gain is nothing, compared to the Capital, Wellington, lost.
Or am I mistaken.
NEWBY, We did this piece
NEWBY,
We did this piece just over a month ago on the jobs creation fund
http://www.interest.co.nz/ratesblog/index.php/2009/09/18/asb-makes-chang...
First paragraph:
Cheers,
Alex
Thanks Alex..I wonder why nothing
Thanks Alex..I wonder why nothing further has been forthcoming..
Lots of Poms will move
Lots of Poms will move here after the RWC - won't they? Maybe J Key could offer anyone who moves here within 3 months of the RWC tax free status for 5 years if they set up a business here.
Maybe we don't need it - have just seen Bill English on TV saying - "We can beat those Aussies - it's time to back ourselves and supply some old fashioned Kiwi can do. We are nearly through the tough times and things are looking up - together us Kiwis can do it!"
Bank Manager, can I make
Bank Manager, can I make a suggestion....
Yeah right Bill......just send me the BILLs...I will borrow it from the big 4. @ 250 million per week....signed the TAXPAYER.
New TUI..