THE BANK RATE
Sir, —In view of recent statements that the rise of bank rate by one-half per cent, has affected the balance ’ of trade, a little examination of the position shows that exports, which are prefinanced, have slightly increased, that old stocks have been sold, and that imports of motor-cars have been reduced. As it would have to be an expensive motor-car which would cost even one pound more to land on account of the one-half per cent, rise of interest, there appears to be little in the contention. In time, high interest would reduce Imports, but chiefly by reducing exports nnd therefore the ability to pay for imports.— am, etc., A. E. ROBINSON. Auckland, May 14,
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/DOM19280519.2.73
Bibliographic details
Dominion, Volume 21, Issue 195, 19 May 1928, Page 11
Word Count
118THE BANK RATE Dominion, Volume 21, Issue 195, 19 May 1928, Page 11
Using This Item
Stuff Ltd is the copyright owner for the Dominion. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in