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
129THE BANK RATE Evening Post, Volume CVI, Issue 82, 16 October 1928, Page 12
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