SHORT-TERM MARKET
Deposits Down (N.Z. Press Association) AUCKLAND, March 17. Deposits held by the official dealers in the short-term money market dropped £730,000 to £23,599,000 in the week to March 4. Financial circles expect that the week to March 11 will show a further fall. The reasons were said to be the payment of income tax and the £lom Government loan, absorbing money which otherwise would have been placed in the money market. Local bodies and industrial firms slightly increased their deposits, but those of financial institutions and others went down.
Dealers report that liquidity is higher than a year ago. Interest rates offered have increased, with call money at around 3| per cent and one month at 4 per cent.
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Bibliographic details
Press, Volume CIII, Issue 30393, 18 March 1964, Page 21
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121SHORT-TERM MARKET Press, Volume CIII, Issue 30393, 18 March 1964, Page 21
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