THE MONEY MARKET.
The New Zealand' Trade Review, in its issue faf. the .6th inst., observes •that, thougli 'the tone of the .money market lias been gradually growing firmer of late, yet there is no apparent sign of reduction in the, chief cause —,the excess of imports over exports. It adds that isimiilar conditions prevail in Australia also, and ithe |b.a,nfes there recently raised their rates for fixed deposits b,y i P® 1 " cent- The ibanksisi New Zealand have followed suit as from (the Ist inst., now giving 4 per cent, for two years,, and Ei per cent. forgone year. This Will 'mean a hardening of lending rates also, land ,will probably assist in limproving the supply tof money w 1 the banks. Building companies. con.tinue to give 4 per cenlL for twelve months' deposits, and are not. making any advance as yet. The supply of.' money with them is .meeting present .requirements, and- so long as tins continue© aio increase in 'raites is to he expected.
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Wairarapa Age, Volume XXXII, Issue 10657, 12 June 1912, Page 4
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167THE MONEY MARKET. Wairarapa Age, Volume XXXII, Issue 10657, 12 June 1912, Page 4
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