Susan EdmundsRNZ·3 Sep, 2026 02:58 AM3 mins to readIn its Monetary Policy Statement, the Reserve Bank criticised banks for not passing on increases to term deposit rates. Graphic / RNZIn its Monetary Policy Statement, the Reserve Bank criticised banks for not passing on increases to term deposit rates. Graphic / RNZBy Susan Edmunds of RNZBNZ, ASB and Kiwibank have become the latest banks to move on interest rates, after the Official Cash Rate was increased on Wednesday.The rate was lifted by 25 basis points. Westpac and ANZ increased some of
Official Cash Rate hike: More banks pass on OCR increase
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