Big blue leads the rate rises

Our largest bank, ANZ, has rung the changes with increases to all fixed rates following yesterday's surprise CPI numbers.

The biggest increases are to the shorter term rates with its six-month rate rising 55 basis points. The popular two-year fixed rate is up 44 points,, while longer terms are up 34 points respectively.

To see how ANZ's two-year fixed rate stacks up with other banks see our table sorted highest to lowest here.

ANZ says, "off, the back of yesterday’s inflation figures, as well as ongoing volatility in global markets, there has been a significant increase in wholesale market rates.

"With this in mind we are making changes to our fixed home loan rates whilst also updating our term investment rates."

However, the increase in TD rates were lower than those made to home loans.

"Interest rates will continue to be reviewed in response to international and local market conditions," it says.

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