INTEREST RATES
AN AUSTRALIAN VIEW. The chairman of the Commonwealth Bank Board, Sir Claude Reading,_ stated at Brisbane last week that, despite the reduction which has been brought about already, it was still possible for interest rate* to fall in the course of time. A continuance of the present economic conditions would tend to bring the interest rate down, while a revival, through an improvement in world prices, would have the effect of hardening the money market. There had been a definite recovery over the last 12 months in Australia’s interna! economy, said Sir Claude Reading. Full recovery, however, still depended on world conditions. While wool, wheat, butter, eggs, and other commodities remained at the present low prices in the world’s market*, neither Australia nor any-other country could return to full prosperity. There was no lack of credit to assist in businew revival. Any genuine business could get all the credit it needed if it could use it profitably.
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Bibliographic details
Otago Daily Times, Issue 22326, 28 July 1934, Page 9
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159INTEREST RATES Otago Daily Times, Issue 22326, 28 July 1934, Page 9
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