Mark Wilkshire: Co-Operative Bank CEO on banks dropping their rates after the OCR cut

The Mike Hosking Breakfast

It’s a battle of the banks after last week's Official Cash Rate cut.

Most banks dropped their advertised retail loan rates within minutes of last Wednesday's Reserve Bank announcement.

ANZ and Co-Operative Bank have now dropped their rates even further.

Co-Operative Chief Executive Mark Wilkshire told Mike Hosking things are getting competitive.

He says it's good news for homeowners out there, with rates coming down quite quickly.

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