BANK-RATES AND EXPORTS
Sir. It has been seriously advanced by politicians and bankers, with even some assistance from Chambers of Commerce which ought to know better, that the rise of bank-rate had the effect of giving us a “ favourable trade balance." Whether exports or imports are hit hardest by the rise is a moot point. I maintain that exports get almost all the burden. Conceding that point, however, the reduction in imports is a reduction in motor cars and cigdit of one-half per cent, on the of a ca r is not ten shillings, but hardly five. If this charge can really reduce importations, we shall have to revise our views on duties and taxation generally. No doubt high interest will, in time, reduce imports, by reducing the power to purchase. Hardly yet, though! A. E. ROBINSON.
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Sun (Auckland), Volume II, Issue 354, 15 May 1928, Page 8
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137BANK-RATES AND EXPORTS Sun (Auckland), Volume II, Issue 354, 15 May 1928, Page 8
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