ANZ is the first bank to increase its floating rates post the Reserve Bank's OCR increase. It has bumped up its rate just 24 basis points so it sits at 5.99% ASB and Bank Direct were next movers and did the full 25 point hike to 6.00%, while ASB-owned Sovereign went from 5.85% to 6.10%.
The ASB-related lenders also removed their one-year and 18-month specials.
What the economists said: Here is a wrap of the important comments from some of our economists. There are some interesting views which help you gauge what the Reserve Bank may do in the future. [READ ON]
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