Reserve Bank of Australia Annual Report – 1960 Australian Interest Rates and Security Yields
As at June |
Deposit Rates | Bank Overdraft Rates Max. Av.(c) | Government Securities | Company Debentures | ||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Trading Banks | Savings Banks Max.(b) | Treasury Bills(d) | Shorts | Longs | Hire Purchase Affiliated with banks |
Selected Other (mainly finance) 5 years | ||||||
3 months | 6 months | 12 months | 24 months(a) | 3 months | 12 months | |||||||
1946 | ½ | ¾ | 1 | 1½ | 2 | 4¾ | 1 | 1.79 | 3.25 | |||
1947 | ½ | ¾ | 1 | 1½ | 2 | 4½ | 1 | 1.92 | 3.15 | |||
1948 | ½ | ¾ | 1 | 1½ | 2 | 4½ | 1 | 2.34 | 3.15 | |||
1949 | ½ | ¾ | 1 | 1½ | 2 | 4½ | ¾ | 1.97 | 3.13 | |||
1950 | ½ | ¾ | 1 | 1½ | 2 | 4½ | ¾ | 1.95 | 3.15 | |||
1951 | ½ | ¾ | 1 | 1½ | 2 | 4½ | ¾ | 2.05 | 3.51 | |||
1952 | ½ | ¾ | 1 | 1½ | 2 | 4½ | ¾ | 2.21 | 4.62 | |||
1953 | 1 | 1¼ | 1½ | 1¾ | 2¼ | 5 | 1 | 3.16 | 4.48 | 3½ | 4 | 5 |
1954 | 1 | 1¼ | 1½ | 1¾ | 2¼ | 5 | 1 | 3.42 | 4.44 | 3½ | 4 | 5 |
1955 | 1¼ | 1½ | 1¾ | 2 | 2½ | 5 | 1 | 3.74 | 4.53 | 3½ | 4 | 6/7 |
1956 | 2¼ | 2½ | 2¾ | 3 | 2¾ | 5½ | 1 | 5.13 | 5.34 | 3½ | 5 | 6/7 |
1957 | 2¼ | 2½ | 2¾ | 3½ | 2¾ | 5½ | 1 | 4.62 | 5.04 | 3½ | 5 | 7/8 |
1958 | 2¼ | 2½ | 2¾ | 3½ | 2¾ | 5½ | 1 | 4.25 | 4.95 | 3½ | 5 | 7/8 |
1959 | 2¼ | 2½ | 2¾ | 3½ | 3 | 5½ | 1 | 4.00 | 4.89 | 3½ | 5 | 7/8 |
1960 | 2¼ | 2½ | 2¾ | 3½ | 3 | 5½ | 1 | 4.20 | 4.95 | 3½ | 5 | 7/8 |
(a) Until July, 1952, only 1% was paid on amounts in excess of £10,000, and
from July, 1952, to January, 1955, 1½%. (b) Maximum rates paid by the Savings Bank of South Australia and the trustee savings banks in Tasmania were generally ¼% higher than those shown here. (c) Until April, 1956, maximum rates, but most lending was at these rates. From April, 1956, the maximum rate was 6%. (d) Discount rate. In November, 1959, the Commonwealth commenced issuing three months Seasonal Securities at approximately two-weekly intervals. Initial issues were at a discount rate of £3/0/2 and from February on the rate was £3/2/2. Issues for 1959/60 ceased in March, 1960. |