We have started the year with the Co-operative Bank, TSB and Kiwibank all trimming fixed rates for longer terms. Term Deposit/Savings Rate Changes: All three banks (Co-op, TSB and Kiwibank) also reduced TD rates for longer terms. See here. More Shoppers, Lower Averages: Consumer spending in December ended 2023 on a weaker note, according to Worldline NZ activity monitoring of their card payments system. Although the 2023 tota value was a record for consumer spending, average transaction value was down, suggesting shoppers were more careful with purchasing decisions. Cost Pressure Moderates: Infometrics reports ... (full story)