News
ASB hikes floating rate by 0.25 per cent
Tuesday 14th of September 2004
ASB said the rise was in response to the Reserve Bank's lift in interest rates last week. The central bank lifted the Official Cash Rate by quarter of a percentage point on Thursday to 6.25 per cent.
On Friday, Westpac was the first bank to respond to the RB's move when it raised its floating rate by 25 basis points to 8.6 per cent.
ASB said its hike would cost a borrower with a 20 year $100,000 table mortgage $15.85 a month.
Read More - Opens in a new window
Want to read the full article?
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.