NBS Raises Term Deposit Rate, Consumer Confidence Remains Low

No changes were reported to mortgage rates today.

However, NBS raised its one-year term deposit rate to 4.30%, a high level for a community-based non-bank deposit taker and above any bank's rate. The New Zealand Roy Morgan Consumer Confidence remained low at 97.6 points in September, while inflation expectations dropped to 4.5%.

Car sales increased with over 20,000 new and used passenger cars registered in September, driven by strong hybrid and EV sales.

The NZX50 index closed down -1.0%, and the Kiwi dollar eased against the US dollar but rose slightly against the euro.