ANZ Bank reverses some of last week's mortgage rate hikes

Tue, 24 Aug 2021

ANZ Bank New Zealand has reversed a number of hikes to its fixed-rate mortgages just a week after raising them.The bank is putting its standard one-year fixed rate back to 3.15% after hiking it to 3.29% last week, one day ahead of the Reserve Bank's decision on interest rates.While the RBNZ had been expected to raise its official cash rate, the delta variant of covid-19 surfaced and the central bank remained on hold. Wholesale rates have also tumbled in the wake of the delta outbreak.ANZ also reversed 10 basis point hikes to its standard 18...

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