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ANZ Leads Market With New Home Loan Rates

Wednesday 7 February

ANZ Leads Market With New Home Loan Rates

ANZ undercut the other major banks today with the announcement of further decreases for its fixed rate home loans.

Fixed home loan rates for one, two and three year terms will decrease from Thursday 8 February 2001, as follows:

* One year fixed rate decreases from 7.40% per annum to 6.99% per annum * Two year fixed rate decreases from 7.40% per annum to 7.15% per annum * Three year fixed rate increases from 7.50% per annum to 7.30% per annum

"Wholesale interest rates have fallen since late last year. These declines have been driven by lower interest rates offshore and a growing belief in financial markets that the Reserve Bank will adopt a more moderate policy stance over the months ahead than previously expected", ANZ Managing Director, Dr Murray Horn said.

"We are pleased to be able to pass on the benefit of these lower rates to our customers."

ENDS

For further information please contact: Steve Fisher, (09) 374 4123 or 025 642 5823.

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