{"id":608630,"date":"2026-04-15T14:31:16","date_gmt":"2026-04-15T14:31:16","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/608630\/"},"modified":"2026-04-15T14:31:16","modified_gmt":"2026-04-15T14:31:16","slug":"countrys-biggest-bank-raises-interest-rates","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/608630\/","title":{"rendered":"Country’s biggest bank raises interest rates"},"content":{"rendered":"

\"ANZ<\/p>\n

\nANZ.
\nPhoto: RNZ \/ Marika Khabazi\n<\/p>\n

ANZ, the country’s largest bank, is increasing some of its fixed home loan and term investment rates.<\/p>\n

It is raising its home loan rates on terms between one year and five years by 10 basis points or 20 basis points.<\/p>\n

The two-year special rate lifts from 5.09 percent to 5.29 percent and the one-year rate from 4.59 percent to 4.69 percent.<\/p>\n

Term deposits of between 18 months and five years will lift by either 20 or 10 basis points.<\/p>\n

It follows an update to the bank’s official cash rate forecast this week.<\/p>\n

Chief economist Sharon Zollner said she now expected the OCR could rise<\/a> three times this year, starting as soon as July.<\/p>\n

ANZ managing director for personal banking Grant Knuckey said the changes reflected moves in wholesale interest rates.<\/p>\n

After a fall in late March, the two-year swap rate has risen from about 2.85 percent at the start of the month to more than 3 percent.<\/p>\n

Markets are pricing in the likelihood that interest rates will have to rise to counteract inflation due to fuel price rises driven by the Middle East conflict.<\/p>\n

“Lower interest rates have flowed through to customers with around 82 percent of our home loans on a rate below 5 percent,” Knuckey said.<\/p>\n

More than 44 percent of ANZ home loan customers were ahead on their repayments by six months or more.<\/p>\n

Knuckey urged anyone with concerns to contact their bank sooner rather than later.<\/p>\n

“People shouldn’t be nervous about talking to their bank, we’re here to support customers with the various options available to them.<\/p>\n

“There are steps you can take to manage your home loan and things you can do to help relieve some financial pressure,” he said.<\/p>\n

Sign up for Money with Susan Edmunds<\/a> , a weekly newsletter covering all the things that affect how we make, spend and invest money.<\/p>\n","protected":false},"excerpt":{"rendered":"ANZ. Photo: RNZ \/ Marika Khabazi ANZ, the country’s largest bank, is increasing some of its fixed home…\n","protected":false},"author":2,"featured_media":277013,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,1590,63,99,1589,164,44,1591,1588,1586,1587],"class_list":{"0":"post-608630","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-au","9":"tag-audio","10":"tag-australia","11":"tag-business","12":"tag-current-affairs","13":"tag-economy","14":"tag-news","15":"tag-podcasts","16":"tag-public-radio","17":"tag-radio-new-zealand","18":"tag-rnz"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/608630","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=608630"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/608630\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/277013"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=608630"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=608630"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=608630"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}