UPDATE: ANZ warns farmers RBNZ intervention may mean higher borrowing costs

By Jenny Ruth | Fri, 03 May 2019


(Updates with comment from Mark Hiddleston from 12th par) By Jenny Ruth May 3 (BusinessDesk) - ANZ Bank has warned its farming customers they face higher borrowing costs almost immediately due to Reserve Bank intervention, even though wholesale interest rates have been falling sharply for more than a year. In a letter sent to those and other business customers last month, Mark Hiddleston, ANZ’s commercial and agri division managing director, says the Reserve Bank told ANZ in February that it would have to have to increase the amount of...