23.15% on bills
PA Wellington The fall in money market interest rates which was widely quoted before and after the Budget is not being continued this week, money dealers said. Medium-term rates for 90 day commercial bills were quoted yesterday at 23.15 per cent, up from 23 per cent yesterday, 22.9 per cent on Monday and 22.8 per cent on Friday. They were at 24 per cent on Budget day, June 13. Long-term rates, which came down sharply before the Budget and fell further
at the June stock tender a week after the Budget, have steadied or firmed this week. May 1991 stock was quoted at 17.5 per cent yesterday, the same as a week ago, although down from 18.15 per cent at the June 20 tender. April 1995 stock was at 16.9 per cent, up from 16.7 per cent a week ago, although down from 17.3 per cent at the tender. Short-term or call rates also remain high, being quoted yesterday at 24 per cent, compared with 20 per cent on most days recently.
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Press, 4 July 1985, Page 28
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17523.15% on bills Press, 4 July 1985, Page 28
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