20 Aug 2024

Banks cut interest rates - what's on offer?

From Nine To Noon, 9:35 am on 20 August 2024
A composite image of New Zealand's four major retail banks - ANZ, ASB, BNZ and Westpac.

Photo: RNZ / Dom Thomas

Retail banks have been cutting interest rates since the Reserve Bank dropped the official cash rate last week.

This is for both fixed home loans and term deposit rates.

Meanwhile the Commerce Commission has just released its final report into competition in the retail banking sector. Kathryn speaks with RNZ's Money Correspondent Susan Edmunds.