Westpac rates
Intense competition for funds in the finance sector and high wholesale money rates have forced Westpac Merchant Finance, Ltd, to lift its top rates by up to 3 per cent The bank does not foresee a decline within the immediate future. The general manager (treasury), Mr Ken Littlejohn, said the rise in the retail market was inevitable following commercial bill rates of 24 per cent and 27 per cent for call. Westpac lifted its top rate to 20.25 per cent on amounts of $20,000 tosl 00,000 for a five-month term.
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Press, 4 February 1987, Page 38
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92Westpac rates Press, 4 February 1987, Page 38
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