Interest rates 'to rocket’
PA Wellington The Development Finance Corporation’s new interestrate structure was official admission that interest rates were going to rocket for the rest of the year, said 'the Leader of the Opposition (Mr Rowling) yesterday. Mr Rowling, referring to the increased interest rates offered by the D.F.C., payable on its secured debenture stock in its present offering, said they showed an increase of at least 1 -per cent across the board. The year rate would' be 14.75 pei cent, increasing to 15.25 pet cent by the time the fouryear period was reached. “The corporation has had a history of leading the marketing . onwards and upwards,”, he; said. “The Labour Party sees, this latest move as another abject surrender to the forces of inflation, as well as confirmation of the trends I predicted in my state of the nation speech three weeks ago,” Mr Rowling said. “The Government and its organisations should provide a lead to lower interest rates, not push them through the roof.”
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Press, 3 February 1981, Page 2
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167Interest rates 'to rocket’ Press, 3 February 1981, Page 2
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