On Wednesday, we will get the December CPI data. The average analyst expectation is for inflation to have been running at 7.1% in the December quarter. Unless something materially changes, it may come in lower in Q1-2023 as the inflationary trend eases. Meanwhile, a challenger bank launched a 6% term deposit offer for a one year term. That will make savers more motivated to get their money working harder. We haven't been this close to the CPI rate for a 1 year TD in a very long time. In fact, the new SBS Bank 6% offer is the highest from any bank since November 2008.

https://www.interest.co.nz/personal-finance/119334/sbs-bank-has-launched-6-rate-offer-12-month-term-deposit-highest-rate-offer

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