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ANZ cuts home and credit card lending rates

Document date:  Wed 03 Oct 2001
Published:  Wed 03 Oct 2001 11:34:13
Document No:  181996
Document part:  A
Market Flag:  N
Classification:  Progress Report - Other

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2001-10-03  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ today announced it would cut interest rates on variable home and
residential investment loans and ANZ-branded credit card rates by
0.25%pa, following the Reserve Bank of Australia's decision this
morning to lower the Official Cash Rate.

Effective 12 October 2001, the interest rate for ANZ's standard
variable rate home and residential investment loans will be reduced
by 0.25%pa, from 6.57%pa to 6.32%pa for both new and existing
customers. ANZ's other variable rate 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 ANZ-branded credit cards will fall by 0.25%pa,
effective 5 November 2001.

Interest rates for small business lending are currently under review.

For media enquiries, contact:

Rita Zonius
MEDIA RELATIONS MANAGER
Tel:   03 9273 6190 or 0409 655 551
Email: zoniusr@anz.com