The New Zealand Debt Management Office announced today that the interest rate for all Kiwi Bond maturities will decrease.
The six-month Kiwi Bonds will decrease by 0.25% to 2.00%, the one-year Kiwi Bonds will decrease by 0.50% to 2.00%, and the two-year Kiwi Bonds will decrease by 0.50% to 2.25%.
The interest rate for the four-year Earthquake Kiwi Bonds will decrease by 0.75% to 2.75%.
All these changes are effective immediately.
"Kiwi Bond interest rates are set periodically from moving averages of domestic wholesale rates. The new rates have been set in response to recent changes in wholesale market interest rates", Philip Combes, a spokesperson for the NZ Debt Management office, said in a statement announcing the reductions.
The Kiwi Bond rates are as follows for subscriptions of $1,000 - $500,000.
|
Maturity |
Rate |
| 6 months | 2.00% per annum |
| 1 year | 2.00% per annum |
| 2 years | 2.25% per annum |
| Earthquake Kiwi Bond | |
|---|---|
| 4 years | 2.75% per annum |
All term deposit rates are here »
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