THE MONEY MARKET.
— , — ■— o- • Accobding to the Trade Review there is little change in the] money market since last month. The lowered value of money still takes effect from time fco time on institutions which were somewhat out of lino in their terms. 'The Public Trust office has reduced the rate of interest given on funds in its hands by one per cent, bringing it down to four por cent. The Tasuianiaa Post Office Savings Bank has re-
duced its rate on deposits from 3J to j 3 per cent, which should be a hint to our own Government. The Bank rates are without any material alteration, but some of these institutions do not restrict tbe 5 per cent discount rate to three months' bills, but are prepared to discount good paper of even longer dates at the same rate which should act as a stimulus to enterprise. In the open market money is in good supply and available for advance on freehold security at 5 to 5| per cent on good securities according to amount and character. The demand for sound investment shares continues active. Altogether we consider the state of the money market as highly favorable to borrowers, while the rates obtainable may be considered remunerative to the lenders.
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Bibliographic details
Feilding Star, Volume XVII, Issue 172, 24 January 1896, Page 2
Word Count
211THE MONEY MARKET. Feilding Star, Volume XVII, Issue 172, 24 January 1896, Page 2
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