AUSTRALIAN LOAN
INVESTORS’ HESITANCY NO REFLECTION ON CREDIT S LONDON, May 7. Although the underwriters have been left with most of the Australian £7.000,000 loan, this is no reflection on Australia’s credit, which has seldom been higher in the estimation of the City. The result was due entirely to the indisposition which afflicts all sections of the markets. No doubt the loan eventually will find its way to the portfolios of investors. At the present discount the loan is bound to recover directly .the markets take a more hopeful turn. The loan has caused speculation regarding when the British Government will come on the market. There is some evidence that the Bank of England is pursuing a slightly inflationary policy in regard to bankers’ deposits. Thus bankers may soon be forced on the market as buyers of giltedged securities, when the Government no doubt will seize the opportunity for defence borrowing.
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Otago Daily Times, Issue 23511, 27 May 1938, Page 10
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151AUSTRALIAN LOAN Otago Daily Times, Issue 23511, 27 May 1938, Page 10
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