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top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
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ANZ vows to toe interest rate line

By Staff Reporter
27 October 2009 | 1 minute read

ANZ Bank has promised to keep step with the Reserve Bank’s adjustment to the cash rate when the Board meets in November.

According to a report in Herald Sun, ANZ chief executive Mike Smith said the bank would not deviate from the RBA rate cycle until it becomes clear that Australia has come out the other end of the GFC.

"I'm concerned we're in a quite fragile stage of recovery (and) I'm reluctant to move above the Reserve Bank, right now, because I can't see how it would be in the best economic interests of Australia,” Mr Smith told the Herald Sun.

ANZ’s announcement will put pressure on the other majors to follow suit and shelve home loan rate increases.

ANZ vows to toe interest rate line
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Do you have an industry update?

top suburbs

12 month growth
Box Hill
127.02%
Mollymook
82.85%
Brightwaters
79.93%
Cleve
78.13%
Bawley Point
76.2%
Murrays Beach
75.57%
Terranora
70%
Crescent Head
69.38%
Park Ridge South
68.32%
Mollymook Beach
67.09%
SEE AREA REPORTS ON SMART PROPERTY INVESTMENT WEBSITE
Subscribe to Newsletter

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Enter your email to receive the latest real estate advice and tools to help you sell.