What Westpac’s Patronising Banana Smoothie Video Means for NZ

Interest.co.nz editor Bernard Hickey talks about Westpac Australia’s ‘banana smoothie’ video defending its huge variable mortgage rate hike. He looks at what it force mean for New Zealand homeowners, some of whom are Westpac customers and an rising number of whom are taking out variable mortgage deals. Most NZ homeowners have fixed mortgages, while most Australians have variable deals