ANZ has kept its standard variable rates on mortgages and business loans on hold.

The decision at the bank’s monthly rate setting meeting follows a decision by the Reserve Bank of Australia to keep the cash rate on hold at three per cent on Tuesday.

ANZ did not provide any reasons for its decision, despite introducing its monthly rate announcement to provide more information to customers about the factors behind its rate settings.

NAB has the lowest variable rate among the big four at 6.38 per cent, followed by ANZ and Commonwealth’s 6.4 per cent, and Westpac’s 6.51 per cent.