The country's largest bank is again raising interest rates, days after forecasting much earlier-than-expected OCR hikes. 

ANZ is increasing most home loan rates by 10 to 20 basis points following a rise in wholesale rates. 

It's now advertising a one-year home loan rate of 4.69%. 

Independent economist Cameron Bagrie told Mike Hosking markets are pricing-in the change in forecasts. 

He says the fixed rates are based on what's expected to happen, rather than what's happening now. 

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