Term Deposit Report: Rates continue to drift lower
- Most term deposit interest rates remain above 20-year averages
- However, longer-term deposit interest rates have been easing since late 2023 as financial markets started to anticipate eventual interest rate cuts by the RBNZ
- The ASB economics team think that most term deposit rates will ease further over the year ahead. At the same time, with inflation rates also declining, real investment returns can remain positive
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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.
- Email: Chris
