Households shift away from term deposits to keep cash on hand
New Zealand households are holding more money in accessible savings rather than locking it into term deposits.
Households are changing their savings behaviour, moving away from term deposits towards keeping funds in ready cash. This shift reflects a desire for greater financial resilience and the ability to respond to unexpected circumstances rather than maximising returns through fixed-term investments.
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interest.co.nz
The withering of household deposit growth
Households aren't as flush as they used to be. Rather than locking funds away in term deposits to work their money harder, they are holding it in ready cash to be more resilient in case the unexpected happens