ANZ cuts its one-year mortgage rate as ASB raises

ANZ cuts its one-year mortgage rate as ASB raises
Jenny Ruth
ANZ Bank rightfully grabbed some headlines late Wednesday when it slashed its one-year fixed mortgage rate to the lowest in the market.What flew under the radar was that ASB Bank inexplicably raised its one-year fixed rate the same day.ANZ was reacting to falling wholesale interest rates and the Reserve Bank's emergency official cash rate cut on Monday from 1 percent to 0.25 percent in the face of the rapidly worsening coronavirus crisis.All the major banks immediately passed the full 75 basis point cut onto customers on floating rates, but Res...

More Finance

Rob Everett to replace Joy Marslin as Simplicity chair
Finance

Rob Everett to replace Joy Marslin as Simplicity chair

The former chief executive of FMA and NZGCP starts on the board in May.

Staff reporters 01 May 2025
BNP Paribas appoints new CEO for NZ and Australia
Finance

BNP Paribas appoints new CEO for NZ and Australia

The financial services company employs more than 600 people across Australasia.

Staff reporters 30 Apr 2025
Kernel adds shares and ETFs, but no day trading
Finance

Kernel adds shares and ETFs, but no day trading

Kernel Wealth's test share buyers have been piling into Nvidia, Apple and Google.

PEP seeking payday from UP Education
Finance

PEP seeking payday from UP Education

UP Education is a NZ success story in Australia.

Pattrick Smellie 23 Apr 2025