WESTPAC IN N.Z. RAISES INDICATOR LENDING RATE

  Westpac Banking Corp in New Zealand
  said it will increase its indicator lending rate by 1.5
  percentage points to 22.5 pct from April 7.
      Westpac said in a statement the increase reflects high
  costs of funding.
      The bank said nervousness in the wholesale deposit market
  is creating uncertainty about the immediate outlook for
  interest rates. Liquidity is expected to remain tight over the
  next month and this will put upward pressure on interest rates.
  Base lending indicator rates of the other three trading banks
  range between 21.0 pct and 21.5 pct.
  

