Reserve Bank of Australia Annual Report – 1966 Australian Interest Rates and Security Yields
| At end of | Deposit Rates | Government Security Yields(d) | Company Debenture Issue Rates of Finance Companies Associated with Major Trading Banks | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Trading Banks | Savings Banks(b) | Bank Overdraft Rates(c) | Treasury Notes(e) | Shorts(f) | Longs(g) | |||||||
| 3 months | 6 months | 12 months | 24 months(a) | 1 year | 2 years | 5 years | ||||||
| 1949/50 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 4.50 | 2.08 | 3.18 | ||||
| 1950/51 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 4.50 | 2.18 | 3.54 | ||||
| 1951/52 | 0.50 | 0.75 | 1.00 | 1.50 | 2.00 | 4.50 | 2.34 | 4.65 | ||||
| 1952/53 | 1.00 | 1.25 | 1.50 | 1.75 | 2.25 | 5.00 | 3.29 | 4.51 | ||||
| 1953/54 | 1.00 | 1.25 | 1.50 | 1.75 | 2.25 | 5.00 | 3.55 | 4.47 | ||||
| 1954/55 | 1.25 | 1.50 | 1.75 | 2.00 | 2.50 | 5.00 | 3.87 | 4.56 | 4.00 | 5.00 | 6.00 | |
| 1955/56 | 2.25 | 2.50 | 2.75 | 3.00 | 2.75 | 6.00 | 5.26 | 5.37 | 5.00 | 5.50 | 7.00 | |
| 1956/57 | 2.25 | 2.50 | 2.75 | 3.50 | 2.75 | 6.00 | 4.75 | 5.07 | 5.00 | 5.50 | 6.00/7.00 | |
| 1957/58 | 2.25 | 2.50 | 2.75 | 3.50 | 2.75 | 6.00 | 4.38 | 4.98 | 5.00 | 5.50 | 6.00/7.00 | |
| 1958/59 | 2.25 | 2.50 | 2.75 | 3.50 | 3.00 | 6.00 | 4.13 | 4.92 | 5.00 | 5.50 | 6.50/7.00 | |
| 1959/60 | 2.25 | 2.50 | 2.75 | 3.50 | 3.00 | 6.00 | 3.13(i) | 4.32 | 5.01 | 5.00 | 5.50 | 6.50/7.00 |
| 3 months but less than 12 months |
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| 1960/61 | 4.00 | 4.50 | — | 3.25 | 7.00 | 4.25(i) | 5.36 | 5.38 | 5.75/6.25 | 6.00/7.00 | 6.75/7.50 | |
| 1961/62 | 3.75 | 4.00 | — | 3.50 | 7.00 | 3.75(i) | 4.43 | 4.95 | 4.75/6.00 | 5.25/5.75 | 6.25/7.00 | |
| 12 months to 15 months | ||||||||||||
| 1962/63 | 3.25 | 3.50 | 3.00 | 6.50 | 3.23 | 3.88 | 4.57 | 4.75/5.00 | 5.50 | 6.50 | ||
| 1963/64 | 3.75(h) | 4.00 | 3.25 | 7.00 | 3.75 | 4.36 | 4.75 | 4.25/4.50 | 4.75/5.25 | 5.50/6.50 | ||
| 12 months to 18 months |
over 18 months to 24 months |
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| 1964/65 | ||||||||||||
| Sept. | 3.75(h) | 4.00 | 4.25 | 3.25 | 7.00 | 3.85 | 4.48 | 5.01 | 4.50/5.00 | 5.00/5.25 | 5.50/6.00 | |
| Dec. | 3.75(h) | 4.00 | 4.25 | 3.25 | 7.00 | 3.85 | 4.48 | 5.01 | 5.00 | 5.50/6.00 | 6.50/7.50 | |
| Mar. | 4.25(h) | 4.50 | 4.50 | 3.25 | 7.25 | 3.95 | 4.98 | 5.25 | 5.00 | 5.50/6.00 | 6.00/7.50 | |
| June | 4.25(h) | 4.50 | 4.50 | 3.50 | 7.25 | 4.25 | 4.95 | 5.25 | 5.25/5.75 | 6.00/6.25 | 7.00/7.50 | |
| 1965/66 | ||||||||||||
| Sept. | 4.25(h) | 4.50 | 4.50 | 3.50 | 7.25 | 4.25 | 4.98 | 5.26 | 5.25/5.75 | 6.00/6.50 | 6.75/7.50 | |
| Dec. | 4.25(h) | 4.50 | 4.50 | 3.50 | 7.25 | 4.25 | 4.96 | 5.25 | 5.50/6.00 | 6.00/6.50 | 7.00/7.50 | |
| Mar. | 4.25(h) | 4.50 | 4.50 | 3.50 | 7.25 | 4.58(d) | 4.98 | 5.25 | 5.50/6.00 | 6.00/6.50 | 7.00/7.50 | |
| June | 4.25(h) | 4.50 | 4.50 | 3.50 | 7.25 | 4.58 | 4.94 | 5.25 | 5.25/6.00 | 5.75/6.50 | 6.75/7.50 | |
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(a) Until July, 1952, the rate on amounts in excess of $20,000 was 1.00% and from
July, 1952 to January, 1955, 1.50%. (b) Rates paid by majority of savings banks. The remaining savings banks, whose deposits comprise about 10% of total, have paid at times up to 0.50% higher than rates shown. (c) Prescribed maximum rates. From April, 1956 to April, 1962, each bank also required to observe a maximum average rate over all advances (5.50% from April, 1956, and 6.00% from November, 1960). (d) Prior to 14th February, 1966, income on all securities subject to income tax at current rates less a rebate of 10 cents on each dollar of Commonwealth loan interest included in taxable income; on and after 14th February, 1966, this tax rebate no longer available on Treasury Notes and new issue yield introduced. (e) Three months' securities, issued at a discount equivalent approximately to yield shown. Before 1962/63 yields shown are for similar securities known as seasonal securities issued during certain months of 1959/62. A three months' Treasury bill is also issued, at a discount rate of 1.00% (unchanged since August, 1952); these are not held by the public. (f) Theoretical yield on 2-year maturity (excluding effect of brokerage). (g) Before 1959/60, weighted average of yields on maturities 10 years or more; since then, theoretical yield on 20-year maturity. All figures exclude effect of brokerage. (h) Maximum rate also for periods of from 30 days to three months on amounts of $100,000 and over. (i) Yield for issue of seasonal securities closest to end of year. |
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