ANZ to raise home loan rate by 25 bps, matching central bank move

Reuters February 7, 2023

FILE PHOTO: A pedestrian is reflected in the window of a branch of the Australia and New Zealand Banking Group (ANZ) in central Sydney

(Reuters) – Australia and New Zealand Banking Group said on Tuesday it would raise its Australian variable home loan rates by 25 basis points (bps), passing on the central bank’s latest interest rate hike in full to its customers.

The new home loan rate will be effective from Feb. 17, ANZ said.

(This story has been corrected to say 25 bps from 0.25 bps, in the headline)

(Reporting by Himanshi Akhand in Bengaluru; Editing by Rashmi Aich)

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