$500M Govt stock offer
The Labour Government is acting to reduce the amount of money in the economy by launching a tender for $5OO million in Government stock on Friday. The move will absorb some of the funds which have been returning to the economy since the 20 per cent devaluation at the be-
ginning of last week. Four issues will be put up for tender, two of. them index-linked. The interest rates for the non-index linked issues has been set at 11 per cent and 12 per cent. These levels have been attacked by Sir Robert Muldoon as underlining the cost burden of the devaluation. Details, page 30
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Press, 24 July 1984, Page 1
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109$500M Govt stock offer Press, 24 July 1984, Page 1
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