Banks vary in speed of passing OCR changes to mortgage rates and savings
New Zealand banks are responding at different speeds to official cash rate movements, with some quicker to lift borrowers' rates than savers' returns.
Banks are not uniformly quick in passing on official cash rate changes to customers. Some move faster to increase mortgage rates for borrowers, while others lag in raising savings rates. Fixed mortgage rates that have held relatively stable appear poised to rise further amid geopolitical pressures and wholesale rate movements.
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Coverage across the news outlets we track, as at publication.
What outlets are saying
interest.co.nz
When will the dam burst?
Another week, more geopolitical risk, and solid moves up for wholesale interest rates. The recent stability of fixed mortgage rates seems ready to give way to a new push higher, despite lackluster housing demand
NZ Herald
Banks quick to lift mortgage rates, slower on savings after OCR move
New FMA data shows the picture is more complex than cynics might think.
RNZ
Which banks pass on OCR changes first?
Some are quicker to pass on official cash rate movements to borrowers and savers than others.
1News
Which banks pass on OCR changes first?
Some are quicker to pass on official cash rate movements to borrowers and savers than others.
Stuff
Which banks pass on OCR changes first?
Some are quicker to pass on official cash rate movements to borrowers and savers than others.