LOCAL BODIES LOANS
Interest Rates Reduced
(New Zealand Press Association) WELLINGTON, July 29.
The Minister of Finance (Mr Nordmeyer) announced today that the Local Authorities Loans Board at its recent meeting reduced the rate of interest for local authority borrowing for short periods. As the result of the application of the new reduced maximum rate aS 4 7-8 per cent, announced in the Budget, the maximum rate of interest on local body borrowing for periods not exceeding five years will, in future, be 4' 5-8 per. cent. “This reduction is in accord with the reduction made in the maximum rate for longer periods,” Mr Nordmeyer said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19600730.2.150
Bibliographic details
Press, Volume XCIX, Issue 29270, 30 July 1960, Page 14
Word Count
106LOCAL BODIES LOANS Press, Volume XCIX, Issue 29270, 30 July 1960, Page 14
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.