Public Trust Interest
(P A.) WELLINGTON, This Day. Regulations have been gareiied under the Public Trust Office Aci reducing the rales of interest from 3Vz per cent to is\% per cent m the case of moneys held by the Public Trustee on estates administered by him. and also from 2 per cent to IYi per cent on moneys held by him at call. “I am concerned with bringing Interest rates down to the lowest levci. but tin decision to reduce the rates on investments in the Public Trust Office lias nothing to do with the principle cf general interest rates,” said the Minister for Finance (Hon. W. Nash) when asked if the reduction made by tire Public Trust Office indicated any gem ra! ’owering of rates.
“The reduction applies cn'v to common fund investments by the Public Trust. If lice. No general reduction of interest rates has been considered by the Government.”
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/NA19450420.2.64
Bibliographic details
Northern Advocate, 20 April 1945, Page 4
Word Count
152Public Trust Interest Northern Advocate, 20 April 1945, Page 4
Using This Item
NZME is the copyright owner for the Northern Advocate. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in