Bank drops rates more than RBA cut

In what I believe to be a very clever PR move, ANZ have dropped their variable interest rates by more than the RBA 0.25% cut. 

ANZ had their monthly interest rate review meeting earlier today and had the position of strength in seeing what the other Majors had dropped rates by before making their own announcement. 

ANZ cut rates by 0.27% which is an extra 2 basis points than Tuesday's RBA cut. 

From next Friday 17th May, the variable rate for ANZ will be 6.13%.

Remember, if you would like a full review on your existing loans or are considering new loans, please request a no obligation Rate Strategy Session below as you will most likely qualify for significant discounts on the advertised rates. 

By Darryl Simms

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