Kiwi Banks Hike Mortgages Fully, Leave Savers Behind: FMA Flags Disparity
New data from New Zealand's Financial Markets Authority (FMA), released today, reveals a stark difference in how major banks are handling recent interest rate increases. The FMA found that while the latest 0.25 percentage point rise in the Official Cash Rate (OCR) was fully passed on to customers with variable mortgage rates, many savers saw little to no increase in their on-call savings accounts. This means borrowers are feeling the pinch immediately, while those saving money aren't getting the full benefit of higher rates.







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