Westpac is the next to change consumer interest rates following the May RBNZ OCR rise. ASB made some changes yesterday. They moved rates up almost immediately the OCR decision was announced, adding +25 bps and taking their floating rate to 8.64%. (And even before the OCR was announced, ANZ added +25 bps to their business overdraft and business indicator base rates.) Now Westpac has announced a +25 bps rise to its floating rate, also taking it to 8.64%. It raised its one year fixed rate by +20 bps to 6.

https://www.interest.co.nz/personal-finance/121443/red-bank-raises-rates-both-borrowers-and-savers-following-asb-passing-rbnz

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