Australia and New Zealand Banking : ANZ reduces business and home lending rates to boost growth and economic recovery

ANZ Group Executive, Australia Retail & Commercial, Mark Hand said: 'This year has provided some of the most challenging circumstances many Australians have ever faced. We are focussed on continuing to support our customers now and as the economy starts to recover.

'The RBA and the Government are rightly focussed on supporting the economy by making long-term financing cheaper for small businesses and households during this difficult period. ANZ continues to play its part.

'By providing a lower rate for our Next Step Business Loan - part of the Government SME Guarantee Scheme - we will help our customers restock and rebuild, which will also help boost jobs and the broader economy,' Mr Hand said.

'Since March we have maintained the lowest standard variable home loan index among the major banks for owner occupier customers paying principal and interest and we are pleased to still have the lowest today.

'For home loan customers looking for certainty with their repayments, they can consider the range of historically low fixed rate terms we have on offer.

'We have once again weighed up a number of factors in making this decision with our focus today on supporting business recovery while continuing to offer very competitive home loan rates to help our customers and the housing sector,' Mr Hand said.

ANZ has provided a range of relief measures for customers during the COVID-19 pandemic. Customers seeking more information can visit our dedicated site on anz.com

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