INTEREST RATES
AUSTRALIAN BANKS
REDUCTION OPERATES TO-DAY FIXED DEPOSIT SCHEDULE (United Press Assn.—By Telegraph—Copyright.) (Rec. 11.5 p.m.) [Melbourne, June 25. A conference of representatives of the trading banks, presided over by Sir Robert Gibson, chairman of the Commonwealth Bank, to-day decided to reduce interest rates from June 26 as follows: — Fixed deposits, new money and renewals. Three months 34 per cent, per annum. Six months 3| per cent. Twelve months 4 per cent. Twenty-four months 41 per cent. Advances rates generally will be reduced in due course. The Commercial Bank announces that deposits rates will be reduced by 1 per cent, as from June 26, and the advances rate will be reduced by 1 per cent, from July 1.
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https://paperspast.natlib.govt.nz/newspapers/ST19310626.2.65
Bibliographic details
Southland Times, Issue 21430, 26 June 1931, Page 7
Word Count
119INTEREST RATES Southland Times, Issue 21430, 26 June 1931, Page 7
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