BoQ to hold steady ahead of ANZ announcement

by Adam Smith10 Feb 2012

Bank of Queensland has beaten ANZ to the punch in making its rate announcement, telling customers it will hold steady.

The bank said it would leave rates untouched in the wake of the RBA's cash rate hold this week, amid speculation its major bank rivals could hit homeowners with a rate hike.

"We understand many homeowners and small business owners are concerned about out-of-cycle interest rates and want to take this opportunity to reassure our customers that we won't be increasing our standard variable interest rates at this stage," the bank's managing director Stuart Grimshaw said.

The bank vowed to hold its rates steady regardless of moves by other banks, and said it would keep rates on hold until at least the next Reserve Bank meeting.

COMMENTS

  • by Dean 10/02/2012 10:52:31 AM

    BoQ SVR is 0.06% HIGHER than ANZ (and most others) already !!!!!!!!!!

  • by Positive Broker 10/02/2012 1:19:46 PM

    I'm over worrying about who has the best rate by 0.05% or whatever. In reality its $3 bucks a week on an average loan. My panel now consists of 3 lenders who have consistently competetive rates and good service levels so I get a quick approval for my client. Isn't that the name of the game?

  • by ozboy 13/02/2012 10:25:45 AM

    Does 3 lenders on your panel constitute a broker or merely an introducer?