ANZ first bank to react to OCR cut: Floating, flexible loan rates down after RBNZ decision

(Image: Getty)

Wed, 08 Oct 2025

ANZ is the first bank to react after the Reserve Bank’s 50-basis-point official cash rate cut on Wednesday.“Lower interest rates are helping, and more and more customers are seeing the benefit of rate cuts,” Grant Knuckey, a managing director at ANZ, said.“We’ve ... [seen] people choosing to use lower interest rates to get themselves ahead by saving and paying down their loans faster where they can,” Knuckey said.ANZ cut its flexible and floating home loans by 40 basis points (bps). Its floating home loan rat...

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