RESERVE BANK
MINIMUM DISCOUNT RATE LOWERED.
(By Telegraph—Press Association.) WELLINGTON, This Day. The Reserve Bank of- New Zealand announces that the minimum rate at which it is prepared to discount or rediscount bills will be reduced to 3 per cent as from today, September 6.
When the Reserve Bank opened for business on August 1, 1934, it announced its discount rate at 4 per cent. This was reduced to 3’. per cent on July 29, 1935, to 2i per cent on March 2. 1936, and to 2 per cent on June 29, 1936. On November 19, 1938, the rate was increased to 4 per cent.
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Bibliographic details
Wairarapa Times-Age, 6 September 1939, Page 4
Word Count
105RESERVE BANK Wairarapa Times-Age, 6 September 1939, Page 4
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