FIXED DEPOSITS
BANKS LOWER RATES
MOVE IN AUSTRALIA
STAGNATION \ti INDUSTRY
INVESTORS SHUN RISKS
United Press Association—By Electric Telto
craph—Copyright. (Received Bth March, 11 a.m.)
SYDNEY, This Hay. The trading banks announce a fur*> ther reductioni in the interest rates on '■ fixed deposits, beginning from to-day^ namely:: <
Three months, 2^ per cent, per annum;, six months, 3 per cent^ twelve months, 3£ per cent.; twenty-four, months, 4 per cent. :
The tendency for -.; the- past two years has beeu for liquid ftoids to go into the Banks ia the shape of fixed deposits,, the owners seeking security for their capital and some return lon it. Thus fixed deposits have risen by nearly £1,000,000 to-£181,206^000, while current aecoiinis; have dropped nearly £10,000^000 \p £87,251,000-.
This is described as indicative cf stagnatioii; in business and industry, as the result of the fact that many people are afraid to risk their capital in private enterprise,because they are uncertain, how it will be affected By political policies. :
FIXED DEPOSITS
Evening Post, Volume CXIII, Issue 57, 8 March 1932, Page 7
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