Westpac has shaved 10 points off its two year rate. Its new rate is 7.10% which puts it on par with BNZ's Standard rate and ASB and below the other big banks. However the smaller banks have sharper two year rates at the moment.
Public Trust has cut its rates across the board with the larger of the cuts going to its three, four and five-year rates. Public Trust also reduced its floating and revolving credit rates by 21 and 31 basis points respectively. All its rates are now well below the median rates for all lenders in our table.
In experts views economists look at what the 0.8% rise in GDP for the fourth quarter of 2009 means for the Reserve Bank.
