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NZ business mood improves but eyes on young people leaving, NZGB bond demand softer, fewer cranes, swaps & NZD stable
Just after we published, Westpac advised they are raising fixed home loan rates tomorrow. The rises are similar to the BNZ ones yesterday, with their 18 month rate risi +14 bps to 7.09% and their two year rate up +10 bps to 6.99%. They are also raising their 4 and 5 year fixed rates. None of these changes are market-leading. Term Deposit/Savings Rate Changes: None here either. Mood Improves: Business confidence is moving in the right direction (despite the peak-bodies being in campaign mode for their preferred party(s)). Confidence was positive in September after being negative since early 2021. Confidence in a ... (full story)