ANZ Chief says rate rise won?t hurt market share

ANZ’s rate rise will not impact its share of the mortgage market, CEO Michael Smith told reporters in Malaysia, according to The Sydney Morning Herald.

“Rates are driven by the market and everyone has to work through what rates are realistic for them,” he said.

“I don’t think we’re going to lose market share. We’re only eight basis points difference, it’s not like we’re talking 5, 10, 15 per cent.”