ANZ has raised its floating and flexible home loan rates by 25 basis points, bringing the new benchmark to 6.04%.
The move aligns the bank with peers Westpac and ASB, which have already implemented similar increases in response to the Reserve Bank of New Zealand's (RBNZ) recent monetary policy shift.
The rate adjustment follows the RBNZ's decision to lift its benchmark Official Cash Rate (OCR) by 25 basis points to 2.50%, marking the first increase in three years.
This policy shift confirms a hawkish trajectory aimed at curbing inflation, forcing lenders to quickly recalibrate their lending margins.
For borrowers, the immediate impact is higher monthly repayments on variable-rate mortgages and business loans.
The synchronized action by major lenders suggests that the pass-through of central bank policy to retail customers is now complete, leaving little room for further competitive pricing on floating products in the near term.