LOWER INTEREST RATES
reductions by banks FIXED DEPOSIT MONEY QUARTER TO HALF PER CENT [llY IfiliECRAI'H —PRESS ASSOCIATION] WELLINGTON, Monday Tho banks will reduce the fixed deposits rates to-morrow ns follows: — Three months and under six months, 2 per cent; six months and under 12 months, 2} per cent; 12 months and tinder 24 months, 2J per cent; 2-1 months, 3 per cent. Tho new rates are lower by J per cent for three months and under six months, and lower bv i per cent in all other cases. Tho scale now superseded has boon in forces since December 2, 10.'12, when a reduction was made from tho rates introduced on Juno 1. 1932. Recent successive reductions in the deposit rates nro illustrated in tho following tablo: —• hup,. Juno Pec. .Tulv 1931 1032 1932 103? 3-0 months . . B} 3 '.! l 2 fi-12 months .. 31 31 2} 21 12-21 months . . 4 3J 3 21 24 months .. 41 4 31 3
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Bibliographic details
New Zealand Herald, Volume LXX, Issue 21540, 11 July 1933, Page 10
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159LOWER INTEREST RATES New Zealand Herald, Volume LXX, Issue 21540, 11 July 1933, Page 10
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