Term Deposit Report: Interest rates slowly lift off the lows

  • Low interest rates have been helping borrowers and frustrating savers over recent years.
  • We appear to have turned a corner in 2021 and have seen a lift off the lows for all but the shorter-term deposit interest rates over recent months.
  • However, rates are still very low, and are expected to remain significantly below historical averages over the coming years.

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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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