WESTPAC DROPS NEW ZEALAND INDICATOR LENDING RATE
  Westpac Banking Corp &lt;WSTP.S> said it
  is cutting its indicator lending rate to 22 pct from 23 pct
  effective from June 15.
      Westpac said in a statement various other lending rates are
  also being revised downwards. The Westpac move follows base
  rate drops by other New Zealand trading banks recently. &lt;Bank
  of New Zealand's> base rate drops to 22 pct from 23 on June 16
  and &lt;National Bank of New Zealand Ltd's> rate falls to 21.50
  pct from 23 on June 15. The Australia and New Zealand Banking
  Group Ltd &lt;ANZA.S> rate remains at 23 pct.
  

