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ANZ Decrease Home Loan Interest Rates

Wednesday 19 September 2001

ANZ Announce A Decrease In Home Loan Interest Rates

ANZ's Managing Director, Dr Murray Horn, today announced a decrease in variable home lending rates.

The standard variable home loan interest rate will decrease from 7.70% per annum to 7.20% per annum for new applications received from Wednesday, 19 September 2001 and for existing customers from Monday, 8 October 2001.

In addition to this change, ANZ's Easy Start introductory 12-month variable rate will decrease from 6.70% per annum to 6.20% per annum and the ANZ Moneysaver variable rate will also decrease from 7.30% per annum to 6.80% per annum. These changes are also effective for new applications received from Wednesday, 19 September 2001 and for existing customers from Monday, 8 October 2001.

The ANZ FlexiPlus home loan interest rate will decrease from 7.70% per annum to 7.20% per annum for both new and existing customers from Monday, 8 October 2001.

"These reductions follow a sharp fall in wholesale interest rates in response to the Reserve Bank's decision this morning to lower the Official Cash Rate from 5.75% to 5.25%," says Dr Horn.

ENDS


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