This is the first time ANZ has cut its special two-year home loan rate since May 2021 when it was about 2.7%.
NZIER principal economist Christina Leung is still not expecting the economy to go into recession.
Court action continues in the UK, while receivers have already clawed back $8m for the BNZ by selling South Island land.
New residential mortgage lending was down 34% compared with May last year, but it was down only 4% when compared to pre-pandemic May 2019.
Infrastructure Editor
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articles by Oliver