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WestpacTrust Leads On Interest Rates Again

WestpacTrust is the New Zealand division of Westpac Banking Corporation, which is incorporated in New South Wales, Australia

15 March 2001

WESTPACTRUST LEADS ON INTEREST RATES AGAIN


WestpacTrust continues to lead the market by lowering all its rates for fixed and capped home loans by up to 0.25% per annum, including a market leading rate of 6.85% per annum for nine months.

The fall in rates follows volatility in financial markets on the back of yesterday ’s reduction in the Official Cash Rate and lower global wholesale interest rates, largely in response to the slowdown in the United States economy.

Yesterday most major home lenders moved to match WestpacTrust’s floating home loan rate of 8.25%, which WestpacTrust had introduced on 11 January.

ENDS

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