All the banks are getting in on the act now. Westpac and BNZ have followed ANZ and National banks and cut three, four and five year rates.
The best bank two-year rate is 6.99%.
A number of commentators have noted HSBC have increased one and two year rates. It is worth noting HSBC can't be directly compared to standard bank rates as it has some strict criteria around its loans - including a large minimum loan size.
For thoughts on what's happening read: Interest rate decisions not so easy now
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