Rate cut bonanza begins

Thursday, August 8th 2019, 10:19AM

A landmark day for interest rates yesterday after the Reserve Bank slashed the Official Cash Rate by 50 basis points to just 1%.

ASB moved first with a cut yesterday. Its new two year special rate of 3.75% is available from this morning.

Sovereign has also cut its two year special to 3.75%. BNZ's cut, to the same rate, will come into effect on Monday. Take a look at our rates table here: [READ ON].

Meanwhile, a host of floating rate changes set to come into effect over the coming weeks. We have summarised the big moves in our lead article on TMM Online: [READ ON].

Tags: ASB BNZ Sovereign