{"id":516740,"date":"2026-07-09T01:06:09","date_gmt":"2026-07-09T01:06:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/516740\/"},"modified":"2026-07-09T01:06:09","modified_gmt":"2026-07-09T01:06:09","slug":"westpac-first-to-lift-interest-rates-following-ocr-hike","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/516740\/","title":{"rendered":"Westpac first to lift interest rates following OCR hike"},"content":{"rendered":"

\u201cWe\u2019ll continue working hard to support both borrowers and savers through an interest rate tightening cycle,\u201d Westpac NZ managing director of product, sustainability and marketing Sarah Hearn said.<\/p>\n

\u201cThe large majority of our home lending is on fixed terms, and there are no changes to any of our fixed rates today.\u201d<\/p>\n

Hearn said \u201ca rising OCR will likely mean good news for savers\u201d.<\/p>\n

\u201cWe supported them through the last year by holding our Notice Saver unchanged even as the OCR fell. This proved highly popular with savers, and we think our 3.00% pa rate continues to offer great value.<\/p>\n

\u201cOverall, we\u2019ve seen our customers cope well with the economic uncertainty of the past few months. However, we encourage anyone who\u2019s concerned about their finances to come and talk to us, and so we can make a plan to support them.\u201d<\/p>\n

It comes after ANZ cut some of its home loan and term deposit rates<\/a> last month on the back of a fall in wholesale interest rates.<\/p>\n

The move was in response to Westpac cutting its longer-term home loan fixed rates.<\/p>\n

Stay ahead with the latest market moves, corporate updates, and economic insights by subscribing to our Business newsletter<\/a> \u2013 your essential weekly round-up of all the business news you need.<\/p>\n","protected":false},"excerpt":{"rendered":"\u201cWe\u2019ll continue working hard to support both borrowers and savers through an interest rate tightening cycle,\u201d Westpac NZ…\n","protected":false},"author":2,"featured_media":516741,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[1643,138,6932,2841,1888,5504,24826,12469,8461,111,139,69,10667,5908,2515,19257,7676,61,17239,41402],"class_list":["post-516740","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bank","tag-business","tag-cash","tag-country","tag-first","tag-following","tag-hike","tag-interest","tag-lift","tag-new-zealand","tag-newzealand","tag-nz","tag-ocr","tag-official","tag-raise","tag-rate","tag-rates","tag-to","tag-westpac","tag-yesterdays"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/516740","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=516740"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/516740\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/516741"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=516740"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=516740"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=516740"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}