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Thursday, 19 February 1959

Mr HAROLD HOLT - I shall see how far the statement being prepared can cover all the points that have been raised by the honorable member for Yarra. I imagine that it can cover them quite conveniently. I shall just make this one point clear at this stage: To the best of my knowledge the initiative for the establishment of the short-term money market was taken by the Governor and board of the Commonwealth Bank, who felt that it would be a very useful addition to our central banking arrangements in this country. .

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