Kiwibank tests the market

Thursday, January 20th 2011, 2:16PM

Kiwibank cut its one-year rate to match its floating rate at 6.15% this week in an effort to "test the market" after a quiet few months. As this graph shows, Kiwibank quite often stirs competition.

Borrowers on floating rates will also be pleased to hear that bank economists are shifting their views further out on the Official Cash Rate (OCR) increase with ASB now joining Westpac in predicting a September hike. Find out why in this story.

In people movements, New Zealand Home Loans has appointed a new chief executive from Sovereign to replace one of the company's founders John Erkkila.

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