ANZ cuts home lending rates

Document date:  Wed 05 Sep 2001
Published:  Wed 05 Sep 2001 13:14:28
Document No:  180619
Document part:  A
Market Flag:  N
Classification:  Other 

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2001-09-05  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ today announced it would reduce interest rates for home and
residential investment lending by 0.25%pa, following the Reserve Bank
of Australia's decision this morning to lower the Official Cash Rate.

ANZ's standard variable rate home and residential investment loans
will be reduced by 0.25%pa to 6.57%pa for both new and existing
customers effective 14 September 2001. ANZ's other existing owner
occupied and residential investment home loans will also decrease by
0.25%pa.

ANZ customers with standard variable loans will continue to benefit
from features such as no monthly fees and 100% offset facility.

Interest rates for credit cards and small business lending are
currently under review.

For media enquiries, contact:

Paul Edwards
Head of Group Media Relations
Tel: 03-9273 6955 or 0409-655 550
Email: edwardp12@anz.com