Term deposit rates are heading up, says bank boss

A week after Bank of Queensland put up its mortgage rates because of higher deposit rates and funding costs, Bendigo and Adelaide Bank has also reported higher costs.

Bendigo and Adelaide chief financial officer Richard Fennell said rates in the term deposit market were going up. Fennell said "core" TD rates are currently steady while deposits sold through the bank's wealth management arm were higher.

Source: Banking Day

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