Westpac has positioned itself with some of the sharpest fixed rates after making more cuts this morning. It has lowered all fixed rates, except the one year rate, to market leading positions against the other big banks. The cuts are between 9 and 16 basis points.
While it hasn't cut the one year rate it has taken 45 basis points off its one-year capped rate taking it to 6.50%. Most bank one-year rates are sitting just beloww the six percent mark.
In Broker News we can reveal that the NZMBA has decided to lower its annual membership fees.
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