One of New Zealand's major Australian-owned banks has trimmed some mortgage rates.
ASB has lowered its three-year home loan rate by 10 basis points to 6.65%.
Its four and five-year rates have gone down by 20 basis points to 6.55%.
ASB has also narrowed some of its longer-term deposit rates.
Yesterday Stats NZ revealed annual inflation was 4.7%, its lowest rate in over two years, which is still above the Reserve Bank's target of 1 to 3%.
SHARE ME