ANZ Bank reduces one-year and 18-month special home loan rates by 40bps and 50bps, respectively.

ANZ Bank has announced its largest home loan rate cuts this year, reducing its special one-year rate by 40 basis points to 6.45%, and the 18-month special rate by 50 basis points to 5.99%. The bank's decision to pass on lower rates to customers is part of a competitive environment where banks are striving to offer competitive mortgage lending rates. The rate cuts follow the Reserve Bank's interest rate cut and the fall in wholesale interest rates.