Bank rate ‘must drop’
NZPA-Reuter Washington
President Ronald Reagan said yesterday that with in r , flation at its present low ’ level in . the United States, there was no reason why banks should not bring interest rates down.
“I believe that with inflation at the level it is. that interest rates can come down more,” he said.
“It’s up to the banks . . . there’s no reason why they should not bring these interest rates down." His comments followed (the Treasury Secretary) Donald Regan’s suggestion at a Congressional hearing last week that banks were keeping interest rates high to bolster their earnings because of their problems with domestic and international loans.
Mr Reagan also said: “Everyone who reads the signs believes the recovery is going better than we projected.”
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Press, 25 February 1983, Page 8
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126Bank rate ‘must drop’ Press, 25 February 1983, Page 8
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