Term Deposit Report: Term Deposit rates are expected to decline

  • Term deposit interest rates have been steadily trimmed over the past year and are significantly below the average levels of the past 10-15 years.
  • In fact, term deposit rates are now at the lowest level on records going back to the 1960s.
  • Interest rates are expected to decline even further from today’s level and stay low for several 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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