PRICE OF MONEY
TENDS TO HARDEN
Reference to the price of money in New Zealand was made by Mr. G. R. Hitchie yesterday, at the annual meeting of the Trustees, Executors, and Aeency Co., Dunedin. . He had noticed, he said, a slight hardening in interest rates during the year. It was believed that there was very little money offering for the State Advances Corporation issue of an unspecified amount for seven years at 3i per cent. . "There has been little activity in local body issues during the year, added Mr. Ritchie, "and it is not likely that new capital will be made available for local bodies outside of the four main centres so long as the Loans Board adheres to its present maximum ""New Zealand interest rates are usually a little lower than, Australian rates, and the rise in rates .from £3 17s 7d to £3 19s Id gives, I think, a fair indication of the trend in the market during the year."
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Bibliographic details
Evening Post, Volume CXXIII, Issue 135, 9 June 1937, Page 14
Word Count
163PRICE OF MONEY Evening Post, Volume CXXIII, Issue 135, 9 June 1937, Page 14
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