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BNZ lowers home loan interest rates in New Zealand, anticipating a future OCR cut.
BNZ, a New Zealand bank, has lowered its home loan interest rates in anticipation of an upcoming OCR (Official Cash Rate) cut by the Reserve Bank.
The bank's General Manager Home Lending, James Leydon, stated that the move aims to provide customers with more choices and competitive rates ahead of the expected OCR reduction.
BNZ has reduced its fixed and variable rates, including a drop in the standard variable rate to 6.44%.
The bank has also seen a 20% increase in home loan applications compared to the previous year, attributed partly to the impact of lower interest rates on the housing market.
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BNZ reduce las tasas de interés de los préstamos hipotecarios en Nueva Zelanda, anticipando un futuro recorte de OCR.