U.S. Bank Cuts Discount Rate
(N.Z.P.A.-Reuter—Copyright> WASHINGTON, April 7. The United States Central Bank yesterday cut its discount rate to 4 from 4.5 per cent signalling a dramatic easing in credit from last year’s tight money situation.
The discount rate is the interest charged by the Federal Reserve System—the Central Bank—on borrowings by banks which are members of the system. The cut was requested by 10 of the 12 banks in the system and the other two are expected to do the same shortly. The reduction continues the trend towards lower bank rates in several European countries this year.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19670408.2.139
Bibliographic details
Press, Volume CVI, Issue 31339, 8 April 1967, Page 13
Word Count
99U.S. Bank Cuts Discount Rate Press, Volume CVI, Issue 31339, 8 April 1967, Page 13
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.