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Tuesday, July 14, 2009

ANZ to reduce interest rates further

ANZ will reduce interest rates further on 29 July 2009.

The reduction in interest rates come about as a result of the Reserve Bank of Fiji's policy for banks to reduce their lending rates to the levels they were as at end December 2008 and for interest spreads to be not more than 4%.

ANZ has also announced that the reduction in interest rates comes together with a raising of the risk preferences that the bank have. The bank has said that it will be more comfortable now with lower risk loans and customers that it would otherwise have been.

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