The BNZ has joined the rest of NZ's major banks in lifting mortgage rates following last week's data showing inflation has barely moved.
Following fellow Australian-owned ANZ, Westpac and ASB as well as KiwiBank, BNZ has lifted its fixed-term home loans.
It lifted its one-year special rate from 5.45% to 5.99%, its two-year from 5.69% to 6.09%, its three year from 5.89% to 6.35% and its four and five years rates from 5.99% to 6.35%.
In lifting its rates last week, ANZ - NZ's largest bank - pointed to the fact inflation was at 7.2%, defying predictions of a fall, as one of the reasons for a lift in wholesale market rates, which were being passed on to consumers.
It's widely expected the Reserve Bank will hike the official cash rate at its next update on November 23.
Earlier this month it was lifted to 3.5%.
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