Term Deposit Report: Term deposit rates lower for the longer terms
- Term deposit interest rates remain above historical averages for the past 20 years
- However, deposit interest rates on offer for longer terms started to come down in late 2023, and that pattern has continued in 2024, with rates for the 1-year term and longer terms now off last year’s highs
- The ASB economic team think that most term deposit rates will ease over the year ahead
Contact us
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.
- Email: Chris
