{
  "id": 192815,
  "title": "ASB joins ANZ and BNZ in lifting interest rates",
  "url": "https://urgent.news/2026/08/05/asb-joins-anz-and-bnz-in-lifting-interest-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-05T21:06:11.000Z",
  "source": {
    "name": "RNZ Business",
    "slug": "rnz-business",
    "url": "https://www.rnz.co.nz/news/business/902131/asb-joins-anz-and-bnz-in-lifting-interest-rates"
  },
  "original_language": "en",
  "account": "ASB, along with ANZ and BNZ, has raised interest rates across a range of products. The six-month home loan rate has increased by 10 basis points to 4.79 percent, the one-year rate by 24 basis points to 4.99 percent, and the 18-month rate by 26 basis points to 5.25 percent. Two-year and three-year rates have also seen a 20 basis point increase to 5.45 percent.\n\nSome term deposit rates have followed suit, with the 24-month rate rising to 4.2 percent and the 18-month rate to 4.15 percent. The bank's executive general manager of personal banking, Adam Boyd, noted that these changes reflect the volatility in worldwide wholesale interest rates, which have risen over the past month. Boyd highlighted that the adjustments aim to support savers with better term deposit rates.\n\nBoyd encouraged homeowners with inquiries about their lending to contact ASB's team, as the bank is ready to assist in finding the most suitable structure for individual circumstances. He observed that borrowers are now opting for longer fixed rates, with one-year swap rates rising from around 3 percent to just under 3.4 percent, and two-year rates climbing from approximately 3.3 percent to 3.6 percent over the past month. Economists predict that this trend will continue, with more people choosing longer fixed rates to safeguard against further interest rate increases amid higher inflation and uncertainty.",
  "summary": "It is lifting its six-month home loan rate to 4.79 percent, while its one-year rate will rise to 4.99 percent.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}