ANZ+Bank

5/3

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ANZ today announced it would increase interest rates on Standard Variable Rate Home Loans by 0.25%pa, following the Reserve Bank of Australia’s decision to increase the official cash rate.

Interest rates for ANZ’s variable rate mortgage products will increase by 0.25%pa for new and existing customers on the same date. The new rate on the Standard Variable Rate Home Loan will be 6.91%pa, which is equivalent to a 7.01%pa comparison rate.

ANZ CEO Australia Phil Chronican said: “Funding costs remain high and increasingly this looks to be a permanent part of the world’s financial landscape following the global financial crisis.