FORCING MONEY TO WORK
LOWER BANK INTEREST
'■ The course of Stock Exchange prices ■loth for Government stocks and for the most-sought-after investment shares, betokened an early reduction if the banks were to continue to take fixed deposits, states the "Sydney Morning Herald, commenting on reduction of bank interest rates: Some banks with headquarters not in Sydney have rationed depositors ■for month past. They have refused'to take all that was offered to them as fixed deposits. ■ ■ ' • ■ , ... As on other occasions the banks .with their headquarters in New South Wales, namely, the Bank of New South Wales and the Commercial Banking Company of Sydney, have fallen into line with the Commonwealth Bank. The other banks have not yet made any announcement on the matter. ~',■■ ■, One effect of the reduction should.be to force money into investment in new enterprises. No doubt speculation in gold shares owes some of its strength to the low returns no.w realised on fixed deposits and on sound investments bought on the market.
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https://paperspast.natlib.govt.nz/newspapers/EP19341018.2.134.2
Bibliographic details
Evening Post, Volume CXVIII, Issue 94, 18 October 1934, Page 16
Word Count
164FORCING MONEY TO WORK Evening Post, Volume CXVIII, Issue 94, 18 October 1934, Page 16
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