WESTPAC DROPS NEW ZEALAND INDICATOR LENDING RATE
Westpac Banking Corp <WSTP.S> said it
is cutting its indicator lending rate to 22 pct from 23 pct
effective from June 15.
    Westpac said in a statement various other lending rates are
also being revised downwards. The Westpac move follows base
rate drops by other New Zealand trading banks recently. <Bank
of New Zealand's> base rate drops to 22 pct from 23 on June 16
and <National Bank of New Zealand Ltd's> rate falls to 21.50
pct from 23 on June 15. The Australia and New Zealand Banking
Group Ltd <ANZA.S> rate remains at 23 pct.
 Reuter
