No moves to fix
Its weekly Market Focus says with some banks offering conditional specials in the variable market, it will be interesting to see if more competition is generated in this area.
"If so, it will just be another reason for mortgage holders to avoid paying fixed, which should limit selloffs in the swap market."
On another note, Westpac Weekly Commentary analyses a major development for the New Zealand economy this week that it feels isn't being highlighted enough.
"The Quarterly Survey of Business Opinion highlighted that retailers appear to have struggled in the early months of the year, while the outlook for exporters has been much brighter.
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