4 ms·

what is the interest rate in NZ?

• ZephyrBlu 4y ago
  Around 4-5% right now I believe.
  • alkonaut 4y ago
    4-5%!? Aren’t central bank rates in the 0-1% range pretty much globally still? My mortgage is usually around one percent over the central bank rate so it’s been hovering around 1-1.5% for years now.
    • ZephyrBlu 4y ago
      Yes. New Zealand has extremely high interest rates. I don't know why. My parents have told me that years ago they used to be even higher (10-15%). See these banks for examples: - https://www.kiwibank.co.nz/personal-banking/home-loans/ https://www.kiwibank.co.nz/personal-banking/home-loans/ - https://www.asb.co.nz/home-loans-mortgages https://www.asb.co.nz/home-loans-mortgages - https://www.westpac.co.nz/home-loans-mortgages/ https://www.westpac.co.nz/home-loans-mortgages/ Also, it appears that our central bank has an interest rate of 1.5%: https://www.cnbc.com/2022/04/13/new-zealand-central-bank-hikes-rates-by-hefty-50-basis-points-as-inflation-worries-grow.html https://www.cnbc.com/2022/04/13/new-zealand-central-bank-hik....