The official cash rate is still 0.25 percent.
"A rate hike (or four) is coming," bank economist says.
ASB Bank is now forecasting interest rates to rise from May 2022.
The Reserve Bank keeps monetary policy settings unchanged.
The Reserve Bank has left the current settings unchanged.
ASB bank is offering a term deposit rate of 1.75 percent.
The Reserve Bank has retained current setting on the Official Cash Rate.
A leading economist expects the OCR to rise next year.
"What the Reserve Bank is mindful of is that it doesn't want the housing market to overheat."