BANK RATE DROP
Adjustments In N.Z.
A drop in the Bank of England bank rate from 7 per cent to 6 per cent has affected trading banks' buying. New Zealand on London, and the rate of interest for postshipment finance of wool. The rate of interest is 7 per cent as from yesterday. The London short-deposit interest rate has also been reduced, from 5 per cent to 4 per cent, advises the New Zealand Bankers’ Association. New bank exchange rates, applying as from yesterday, are:—
(BasJs: £lOO English currency.) T/T, £lOO 7s 6d (unchanged): O/D, £99 5s (seamal'l), £99 17s fid laiirmaif): 3 days. £99 3s, £99 15s 6d; 30 davs, £9B 14s. £99 6s fid; 60 days £9B 4s 3d. £9B 16s 9d; 90 davs, £97 14s 3d. 98 6s 9d: 120 days. £97 4s 6d, £97 17s: notes, £97 10s 3d.
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https://paperspast.natlib.govt.nz/newspapers/CHP19650605.2.216
Bibliographic details
Press, Volume CIV, Issue 30769, 5 June 1965, Page 20
Word Count
143BANK RATE DROP Press, Volume CIV, Issue 30769, 5 June 1965, Page 20
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