Term Deposit Report: Inflation remains enemy number one for savers

  • Inflation has lifted by far more than term deposit rates over the past year, and in doing so increases the challenges for savers trying to get their money in the right place
  • The expected OCR increases are factored into longer-term interest rates in New Zealand, including term deposits
  • Despite the increases we have seen in term deposit rates this year, rates for terms shorter than 18 months remain low (under 4%) relative to levels in the past

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Chris Tennent-Brown

ASB Wealth Senior Economist

Chris has worked as an economist for ASB and Commonwealth Bank of Australia in Sydney since 2005. His work has involved monitoring and forecasting trends in the New Zealand economy, with a focus on drawing implications for financial markets and investments. Chris is passionate about savings issues, and much of his current work is focussed on broadening peoples understanding of investments. Chris obtained a Bachelor of Commerce at Auckland University, majoring in Economics, and prior to joining ASB worked in the funds management industry for Bankers Trust and BT Funds Management. With over 20 years' experience in finance, Chris has also spent several years farming, and was a New Zealand representative cyclist. When not at work, Chris likes to travel, cycle, and spend time with his family and numerous pets.

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