INCREASED AGAIN.
Advance To 6* Per Cent By Bank Of England. XjITTLB EFFECT ON 'CHANGE. (Australian and N.Z. Press Association.) (Received 10 a.m.) LONDON, September 26. The decision of the Bank of England to raise the bank rate from 5J to 6i per cent was announced this morning. The advance is the highest since April 192 L did not cause any serious decline on the Stock Exchange a3 most brokers anticipated it. There was, however, a slight weaken- • (r in gilt-edged stock and some industrials though rubber shares remained steady, despite the raw commodity declining id. Apprehension that directors of the bailk would be forced to take this action was revived yesterday by the know--Ip(i»e that further sales of gold had wn made to France and the United States to the amount of £997,377. The Stock Exchange reflected this development in a general depression though, up to last evening, there had not been any serious declines in quotations.
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Auckland Star, Volume LX, Issue 229, 27 September 1929, Page 7
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158INCREASED AGAIN. Auckland Star, Volume LX, Issue 229, 27 September 1929, Page 7
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