Rabobank cuts rural interest rates by 1.5% after OCR cut

Rabobank announced it would cut its its variable base rate for rural loans by 1.5% from February 13 after the Reserve Bank cut the Official Cash Rate by 1.5% to 3.5% and asked banks to pass on lower wholesale rates. * This article was first published on Friday in our daily subscription newsletter for the banking and finance industries. The email costs NZ$365 per annum and carries exclusive news and analysis for New Zealand banking and finance industry executives, regulators and investors. Sign up for a free trial here.