Quote Originally Posted by Logen Ninefingers View Post
‘Reserve Bank Governor Adrian Orr is calling on banks to lift deposit rates as much as they have lifted mortgage rates, saying their tardiness is boosting their profits and preventing the benefits of the higher Official Cash Rate (OCR) flowing to savers.’
That's not how it usually works in NZ. Property owners get their leveraged capital gains, Australian shareholders get their fat dividends from NZ, and NZ depositors go backwards after tax and after inflation. A real benefit to savers would be to only tax real interest earned from deposits.