CANADIAN DOLLAR
Bank Rate Is Raised (N.Z.P.A.-Reuter—Copyright) OTTAWA, Jan. 22. Canada has raised her bank rate from 6 to 7 per cent The decision came a few hours after the United States Treasury had urged American firms to keep the fund of their Canadian subsidiaries in Canada so as not to contribute to pressure on the Canadian dollar. In a statement the Treasury said there had been reports during the past week of abnormally large transfers of funds by American-owned subsidiaries to the United States, and this had resulted in some pressure on the Canadian dollar.
An announcement by the governor of the Central Bank (Mr Louis Rasminsky) said the decision was taken “in the light of recent developments in the exchange market”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19680123.2.82
Bibliographic details
Press, Volume CVIII, Issue 31584, 23 January 1968, Page 11
Word Count
123CANADIAN DOLLAR Press, Volume CVIII, Issue 31584, 23 January 1968, Page 11
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.