National Bank's two-year rate up to 7.7pc

The National Bank has increased its two-year home loan fixed rate to 7.7 per cent from 7.6 per cent, but is leaving other rates unchanged.

Meanwhile, ANZ Banking Group has appointed John Body as head of markets, New Zealand.

Auckland-based Body will head the capital market and foreign exchange units of the bank, which are being merged. He was formerly director of foreign exchange for ANZ.