The country's largest bank, ANZ, is lifting its mortgage and deposit rates from today by as much as thirty basis points.
ANZ says global markets are expecting inflation to remain a problem, hence the need for high rates.
But high rates also have an effect on the local sharemarket, which has been subdued for most of the year. And that in turn has an effect on at least some Kiwisaver returns.
Mark Lister is an adviser with Craigs Investment Partners, and he spoke to Corin Dann.
