Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
Capital movements



Download PDFDownload PDF

PRESS RELEASE By PAUL KEATING, SHADOW TREASURER

CAPITAL' MOVEMENTS

Capital outflow figures released by the Reserve Bank today refute

. claims by the Prime Minister last Thursday that capital was flooding

out of Australia,

The Reserve B a n k 's weekly statement of Central Banking Business^ released

this evening shows that there has been no significant net capital

outflow from Australia recently, . : ■

11 St §1

Hi the week ending Wednesday 23 February the net movement in the

Reserve Bank's gold and foreign exchange assets was a reduction of

$34,4 mil Horn,

This is only 0,3 per cent o'f Australia's international reserves,

■an insignificant fraction.

Mr Peacock has been undermining confidence in the exchange rate for

two weeks. - He .was 'joined in' this exercise last week by the Prime

Minister and Treasurer,

Fortunately the money market like the rest of the community has

learnt to discount the fearmongering of the Fraser government.

CANBERRA

' - ■ ,2Sth February 1933

X'X\X\\XX\\XX'1 XX\V.XXXXXXXXX XW XXX XX\XXXV.XV1 XAXX\XXXXXXXXXXXX\\XXXXV.XXX\'XXX"AXXXX>.,1 XX"AXXX..XXX..V.X\XXXX\X,.XV.XV.-.XXXX\X\XXXXXXVXXX\X\XX\XXX\\X\\XXXVX\XXXV>X.X>..