Banks reduce mortgage rates following official cash rate cut

Wednesday 8 October 2025 · 3 outlets · 4 reports · updated Wed 8 Oct 2025, 5:05pm

In this story Reserve Bank of New Zealand, ANZ, Kiwibank, BNZ

ANZ has become the first bank to lower interest rates after the Reserve Bank cut the official cash rate by 50 basis points to 2.5 per cent. The bank is reducing its floating home, business, and savings rates. Other banks have also begun dropping some home loan rates.

How they headlined it

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1. 1NewsWed 8 Oct 2025, 1:05pm

   Major banks drop some home loan rates after OCR cut (opens in new tab)

   • Reserve Bank 'open' to further OCR cuts after today's 'shock treatment' (opens in new tab) Wed 8 Oct 2025, 5:05pm
2. The Press via The PostWed 8 Oct 2025, 4:25pm

   ANZ first to cut mortgage rates after OCR drops to 2.5% (opens in new tab)

3. RNZWed 8 Oct 2025, 4:51pm

   First bank home loan cuts land after OCR drop (opens in new tab)