ANZ has joined its rivals in hiking interest rates for home owners to help cover the costs of boosting their protection against potential economic shocks.
ANZ will raise its standard variable interest rates for owner occupiers and investors by 0.18 percentage points to 5.56 per cent.
The bank said it faces significant additional costs due to the new levels of capital required to be held against home loans, and its rate hike will add $36 to monthly repayments on the average loan.
Share
