DEARER MONEY
The Australian Dispute LONDON COMMENT LONDON, March 29. Australian deposit rates continue to attract considerable attention. Tho London “Economist” points out that, on classical grounds alone, there is a case for an advance in interest rates. The special circumstances have caused a beginning to be made in deposit rates; banks doubtless, will also bo obliged to increase their loan rates. Australian trade expansion, in conjunction with the depletion of Loudon balances, has reached a poiut where tha time-honoured corrective of dearer money is applicable. The episode between the Commonwealth Bunk and the Bank of New South Wales illustrates Australia’s need for a proper money market as an instrument of orderly control by the Central Bank. From this viewpoint it is unfortunate that the Commonwealth Bank’s first attempt to establish a bill market by issuing Treasury bills to the public should have involved the banking system in an imbroglio.
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Hawke's Bay Tribune, Volume XXVI, Issue 92, 30 March 1936, Page 9
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150DEARER MONEY Hawke's Bay Tribune, Volume XXVI, Issue 92, 30 March 1936, Page 9
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