Other banks might be following ASB in dropping interest rates.  

ASB is dropping its rates on its three, four, and five-year home loan terms.  

Westpac Chief Economist Kelly Eckhold says that last year the Reserve Bank warned interest rates may have to rise.  

He told Roman Travers that recent developments have likely flipped that around.   

Eckhold says low GDP figures signal further rates drops are likely this year. 

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