25 Jan 2012

Warning long term bank deposits will make poor investments

6:58 pm on 25 January 2012

One of the country's largest fund managers is warning New Zealanders to steer clear of putting their money into long term bank deposits.

Tower Investments chief executive Sam Stubbs says a looming inflation blowout will make long term deposits poor investments.

He says rising inflation is the result of large scale printing of money by the European Central Bank.