The Canterbury earthquake has made it more expensive for the New Zealand Government to borrow internationally.
ING fixed interest manager Andrew Michl says governments internationally have been paying more to borrow in the past week.
But he says New Zealand has been paying more, relative to governments in Australia and the United States.
Mr Michl says that is because investors are worried about the amount the Government might borrow for earthquake repairs.
The $1.8 billion paid to investors in South Canterbury Finance, which went into receivership last week, also pushed up rates.
The Government Debt Management Office will review its borrowing in November.
But, at this stage, it says it does not expect to have to increase the $12.5 billion it plans to borrow this financial year.
Finding out how big a deal the quake's been for the Government's lenders won't take long.
Radio New Zealand's economics correspondent says the Government will try to borrow $200 million through the sale of short term debt on Tuesday.
Rating agency comment
The quake has not yet hit New Zealand's credit rating, a downgrade of which would send the Government's interest costs through the roof.
But the Standard & Poors ratings agency says it is watching the situation closely.
