Two major banks have cut interest rates in the past 24 hours
Two major banks have cut interest rates in the past 24 hours
4 June 2025
ASB has slashed up to 20 basis points on a range of fixed home loan rates today -- its seventh cut this year.
ANZ made similar moves yesterday.
The Reserve Bank says it expects more people to move from floating and six-month interest rates, back to fixing on one and two-year terms.
ASB economist Mark Smith says with the OCR back to neutral levels, a higher bar will be needed to justify another cut next month.
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