BANK RATE
THE REDUCTIONS. (By Telegraph—Per Press Association) WELLINGTON July 28. Tlie reducted interest rate oil: bank auvances from seven per cent, to six and a-lialf will take effect on Neveni--her Ist. The rates for fixed deposits will be reduced by one-half per cent, for the twenty-four , months period, and a quarter per cent, for shorter periods. This reduction will take effect on August Ist. Current fixed deposits are not affected. WELLINGTON, July 28. The Associated Banks announce the rates of interest allowed on fixed deposits lodged on and after August Ist will he as follows : One deposit for three months and under six months: Ji per cent, per annum. For six months and under 12 months —3§ per cent. For 12 months and under 24 months —4 per cent. For 24 months—4s per cent. From November Ist suitable adjust-ments-of lending rates will be made, and on that date the minimum rate of fij- per cent, will come into operation, j
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Hokitika Guardian, 29 July 1931, Page 3
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161BANK RATE Hokitika Guardian, 29 July 1931, Page 3
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