Term Deposit Report: Term deposit and inflation rates are both on the rise

  • Term deposit rates have been lifting off their all-time lows over the past year
  • Inflation has been low over recent years but has risen sharply and is eroding the returns from term deposits
  • Related to the rising inflation situation and the economic recovery in the wake of the COVID-19 pandemic, the RBNZ started lifting the Official Cash Rate in October 2021

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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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