Short-term money
Interest rate levels in the short-term money market last week had been steady on the previous week's lower levels, according to Mr V. G. Duffy, of, A.P.A. Discount Corporation. On Friday morning one of New Zealand's largest financial institutions had been in the market for some millions, which tended to drive up rates- sharply, but by the close on Friday
earlier levels had been restored. The Reserve Bank had been in the market both ways, as a buyer and a seller, and was successful in its stance to maintain equilibrium. Mr Duffy said. The 90 day rate on commercial bills was 14 per cent, and the 90 day TCD rate was around 13 per cent, both rates steady on the previous week.
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Press, 29 June 1981, Page 20
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124Short-term money Press, 29 June 1981, Page 20
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