They issued this short statement:
Westpac NZ is reducing its floating rates by 10 basis points to 5.75% in response to this week's OCR move. This applies to Choices Floating, Choices Everyday and Choices Offset.
'This adjustment follows yesterday's OCR cut but also reflects elevated funding costs due to financial market volatility since the middle of 2014.' said a Westpac NZ spokesperson.
This rate will be effective on 14 March 2016 for new customers and 29 March 2016 for existing customers.
Like ANZ, they have made no reference to any reductions for other types of variable rate lending to sectors like farming or small business.
Yesterday, swap rates fell very sharply following the RBNZ MPS; 90 day bank bill rates fell even more. And CDS spreads continued their recent easing trend.
The Cooperative Bank led the changes, passing on the full reduction and taking their floating rate down to 5.45%.
Westpac has also reduced some key call accounts, by as much as -0.25%.
Today they also reduced most term deposit rates by between -5 and -15 bps.