EXCHANGE RATE POLICY
NO ALTERATION IN PROSPECT. DISADVANTAGE OF UNCERTAINTY. (From Our Own Correspondent) Wellington, May 27. The announcement by the Minister of Finance that the Government has nd intention of departing from its exchange policy was timely in view of the persistent rumours which have been current during the last few months. When the Banks Indemnity (Exchange) Bill was before the House of Representatives Mr. Coates said that the high exchange policy would not be departed from lightly, but there were many, principally importers, who held that the Government would be forced to reconsider the. position. This opinion no doubt gave rise to the rumours of a capitulation, and all sorts of statements were in circulation. Apart from the merits or demerits of exchange inflation it is disturbing to the commercial activities of the country for a position of uncertainty to exist, and now that the rumours have been flatly contradicted the business community will be able to act with more confidence. There is no doubt that some firms have been carrying exceptionally low stocks in anticipation of a fall in the exchange rate, and they may take steps now to replenish their supplies.
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Taranaki Daily News, 30 May 1933, Page 12
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195EXCHANGE RATE POLICY Taranaki Daily News, 30 May 1933, Page 12
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