Short-term money market
The short-term money market displayed the usual tightness associated with the end of the month, according to Mr V. G. Duffy, of APA Discount Corporation. The 90-day commercial bill rate remained steady at 14.6 per cent.
The Reserve Bank is believed to have made purchasers of about SIOM on each of the last three days of the week. Its efforts to influence short-term interest rates appear to be bearing fruit, as the bill rate has steadied in the last two weeks, although at a high level.
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Press, 2 June 1981, Page 22
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89Short-term money market Press, 2 June 1981, Page 22
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