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THE BANK RATE

A statement to the effect that producers were not getting the benefit of the reduction in the bank rate to 6 %per cent., was made by Mr. \V. J. Poison at a meeting of the Dominion Executive of the Farmers' Union to-day. He said, he had seen a letter from a banker in which it was stated that only special account's were receiving the benefit ot the reduction. The belief of everybody was that the banks reduced the interest rate to 6% per cent., and apparently they had not. A delegate: "I know some of the small men who are being charged 7 per cent." Mr. Poison: "I should imagine some of the big men are, too, according to some of the letters I have had." :

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https://paperspast.natlib.govt.nz/newspapers/EP19281016.2.104.8

Bibliographic details

Evening Post, Volume CVI, Issue 82, 16 October 1928, Page 12

Word Count
129

THE BANK RATE Evening Post, Volume CVI, Issue 82, 16 October 1928, Page 12

THE BANK RATE Evening Post, Volume CVI, Issue 82, 16 October 1928, Page 12