what date each month does ANZ decide on its rates?

[donkey]

Anz has a policy in place where they decide each month what to do with the rates- after the RBA has made its decision. What date of the month does that normally happen?

Why do they do this? Are they making money from doing this?

 

[j_p]

I thought I read something about ANZ doing a monthly review of their rates on a set day to show how their rates were linked to market conditions and not just the RBA or some such rubbish.

Does it matter if they raise or lower rates by 25 basis points at the start or the end of the month? Not to me.

 

[pinkboy]

2nd Friday of the month iirc.

They see what all other banks do I guess.

pinkboy

 

[Martin Walmsley]

2nd Friday of the month iirc.

They see what all other banks do I guess.

pinkboy

Yes ANZ announce last, However all banks pass on the movement approx 20th of each month. Does not really matter when they announce they all move at the same time

 

[Jamie_]

Yes ANZ announce last, However all banks pass on the movement approx 20th of each month. Does not really matter when they announce they all move at the same time

I remember during the last rise, whilst ANZ held off on announcing what they were doing, all the other banks forward date their rate changes to the 20th of the month where ANZ actually set theirs for the 12th/13th which i guess saves you a little bit more