INTEREST RATE UP
Move Against Inflation (N.Z. Press Association) CANBERRA, July 4. The Australian Government has sharply increased the interest rates it is offering for its next cash loan in a move to reduce inflationary trends. The new rates, announced last night by the Treasurer (Mr William McMahon) are expected to be followed eventually by higher lending charges and deposit rates. Interest rates in the loan for maturities ranging from three to 36 years will range from 5.4 per cent to 6 per cent The loan will be open from July 10 to July 17. Interest rates offered in the last loan, only two months ago, in which maturities ranged from three to 35 years, ranged from 5.2 per cent to 5.4 per cent Senior Commonwealth officials said the higher interest rates were a byproduct of Reserve Bank and Treasury efforts to slow the rate of increase in total liquidity.
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Press, Volume CIX, Issue 32032, 5 July 1969, Page 22
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150INTEREST RATE UP Press, Volume CIX, Issue 32032, 5 July 1969, Page 22
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