BANK RATE LEVEL
CHAMBER NOT MOVING AT PRESENT TIME
FINANCIAL INSTABILITY
Considering that financial instability throughout the world does not warrant a move to gain a reduction of the bank rate in Ken Zealand at the present time, the Chamber of Commerce yesterday afternoon decided not to take action in the question. The level of the bank rate has neon exercising the attention of business organisations throughout the Dominion. The substance of the opinjons among the chambers of commerce has been that the high bank rate was against prosperity. But the chambers generally consider that, the financial position of New Zealand at the present time scarcely warrants immediate action, although the time may come later for a move in the question. At the chamber's meeting. Mr. A. Cl. Lunn moved. “That, in view of financial instability throughout the world, it would net be advisable to press, at present, the question of a reduction in the bank rate.” Mr. H. W. Hudson was the seconder, and the motion was carried unanimously.
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Bibliographic details
Sun (Auckland), Volume III, Issue 737, 9 August 1929, Page 10
Word Count
170BANK RATE LEVEL Sun (Auckland), Volume III, Issue 737, 9 August 1929, Page 10
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