Federal Reserve officials regarded the U.S. economy’s outlook as particularly uncertain last month, according to minutes released Wednesday, and said they would “proceed carefully” in deciding whether to further raise their benchmark interest rate. Such cautious views are generally seen as evidence that the Fed isn't necessarily inclined to raise rates in the near future. Economic data from the past several months “generally suggested that inflation was slowing,” the minutes of the Sept. 19-20 meeting said.
Westpac's 6% nine month TD rate shifts a main bank into the heart of where savers want to commit for term savings, and close to where challenger banks have already gone
Another main bank, ASB, now offers 6% for term deposits of 1-year, joining Kiwibank. ASB also becomes first bank to raise key 2-year home loan rate above 7%
Six percent term deposit offers are more common now with 11 banks offering them. But Kiwibank is the first main bank offering 6% for a 1 year commitment. Some savers can enhance those returns by using PIEs