BILLS IN LONDON
LIKELY RENEWAL RATE. £5,000,000 MATURING THURSDAY. LONDON. Dee. 27. In view of the Commonwealth's inability to discharge the £5,000,000 worth of bills which will mature on December 31 with the Westminster Bank, the interesting point at the moment is the rate at which their renewal can be expected. The £6 3s 3d per cent, rate at which the New Zealand bills were placed on December 15 has been mentioned, but the general opinion is that the market finances of two Dominions cannot be judged on Ihe same basis. In the case of Australia the expectation has been that 1 per cent, above the bank rate would be asked, but it is understood that the marked swing of the political pendulum in the Commonwealth is likely to tell in its favour and that a renewal at £6 10s per cent, is not too much to hope for.
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New Zealand Herald, Volume LXVIII, Issue 21067, 29 December 1931, Page 7
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149BILLS IN LONDON New Zealand Herald, Volume LXVIII, Issue 21067, 29 December 1931, Page 7
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