“Short-term rates will ease”
PA Wellington There were signs that the tight liquidity in the economy was easing, the chairman of the New Zealand Bankers’ Association (Mr F. A. Schulte) said in a statement. Trading bank credit limit commitments showed a reduction of S3OM in April, and actual lending fell S33M in the second week in May. These are positive signs of the measures taken by banks to curtail new lending and of the recovery of business cash flows from the effects of the March tax drain. Short-term interest rates would now ease. The Bank of New South Wales would be reducing its rates for large short-term deposits in the coming week, Mr Schulte, said.
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Press, 23 May 1977, Page 14
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115“Short-term rates will ease” Press, 23 May 1977, Page 14
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