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Home Lending Rates Rise Following RBA announcement

Document date:  Thu 09 May 2002
Published:  Thu 09 May 2002 16:08:28
Document No:  190140
Document part:  A
Market Flag:  N
Classification:  Other

AUSTRALIA AND NEW ZEALAND BANKING GROUP       2002-05-09  ASX-SIGNAL-G

HOMEX - Melbourne                                                     

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ANZ today announced it would increase interest rates on variable home
and residential investment loans following recent increases in the
wholesale cost of funds and the decision by the Reserve Bank of
Australia yesterday to lift the Official Cash Rate by 0.25%.

The interest rate for ANZ's standard variable housing loan, which has
no monthly fees, will increase by 0.25%, from 6.07% to 6.32%. The
rate change is effective for existing customers from Friday, 17 May
2002.

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 remain
under review.

For media enquiries, contact:
Rita Zonius
MEDIA RELATIONS MANAGER
Tel: 03-9273 6190 or 0409-655 551
Email: zoniusr@anz.com