Member access

4-Traders Homepage  >  Shares  >  AUSTRALIAN SECURITIES EXCHANGE LIMITED  >  Australia and New Zealand Banking Group    ANZ   AU000000ANZ3

End-of-day quote. End-of-day quote AUSTRALIAN SECURITIES EXCHANGE LIMITED - 07/25
33.75 AUD   +0.51%
1d agoDJCONTAINER TERMINAL SERVICE : ICTSI Secures $350 Million Revolving Credit
1d agoDJAustralia Shares Hit Fresh Six-Year High, Helped by China Data
3d ago ICBC Signed RMB Cooperation Agreements with 4 NZ Banks
SummaryQuotesChart AnalysisNewsCalendarCompanyFinancialsConsensusRevisions 

ANZ Bank Cuts Standard Variable Home Loan Rate By 37 BPS

05/11/2012 | 01:23am US/Eastern
Recommend:
0

Australia and New Zealand Banking Group Ltd. (>> Australia and New Zealand Banking Group) Friday became the last of the nation's big four banks to pass on part of the Reserve Bank of Australia's 50 basis point cut last week.

ANZ said it will cut its standard variable home loan rate by 37 basis points to 7.05% from May 18. That's the equivalent of A$20 a week in interest repayments on an average A$280,000 mortgage, the bank said in a statement.

"We continue to work hard to ensure we are competitive despite sustained funding pressure driven by the high rates we are paying to our 2.9 million deposit customers," said ANZ's Australia chief executive Philip Chronican.

Commonwealth Bank of Australia (>> Commonwealth Bank of Australia), the nation's largest home lender, last week reduced the interest rate on its range of variable home loans by 40 basis points to 7.01% a year. National Australia Bank Ltd. (>> National Australia Bank Ltd.) cut its headline mortgage rate by 32 basis points to 6.99%--the lowest of the big four banks. Westpac Banking Corp. (>> Westpac Banking Corporation) reduced its headline rate by 37 basis points to 7.09%.

The central bank cut its cash rate by 50 basis points to 3.75% on May 1.

-By Caroline Henshaw, Dow Jones Newswires; 61-2-8272-4689; caroline.henshaw@dowjones.com

Recommend :
0
React to this article
Latest news on AUSTRALIA AND NEW ZEALAND
1d agoDJCONTAINER TERMINAL SERVICE : ICTSI Secures $350 Million Revolving Credit
1d agoDJAustralia Shares Hit Fresh Six-Year High, Helped by China Data
3d ago ICBC Signed RMB Cooperation Agreements with 4 NZ Banks
07/18DJMyanmar Set to Grant Licenses to Foreign Lenders -- Update
07/17 AUSTRALIA AND NEW ZEALAND BANKING : ANZ revises China's GDP forecast to 7.5% in ..
07/16 Australian PM Abbott says falling short on G20 growth target
07/16 AUSTRALIA AND NEW ZEALAND BANKING : ANZ appoints Mary MacLeod CFO, International..
07/16 Global business leaders push for infrastructure funding overhaul
07/10 AUSTRALIA AND NEW ZEALAND BANKING : Property sector confidence eases, but remain..
07/10 Bank of Korea stands pat - trims growth, inflation outlook
Advertisement
Chart
Duration : Period :
Australia and New Zealand  Technical Analysis Chart | ANZ | AU000000ANZ3 | 4-Traders
Income Statement Evolution
Australia and New Zealand  : Income Statement Evolution
More Financials
Dynamic quotes  
ON
| OFF