FORCE FOREIGNER OUT
One Explanation For Raisins Bank Rate. PROBABLE SEQUEL. (United Service.) (Received 10 a.m.) LONDON, September 2D. One explanation of the increase in the bank rate is that the Bank of England is attempting to force the foreign borrower to seek accommodation elsewhere, thereby preserving British capital for British industry. The only real danger appears in the possibility of the Federal Reserve and other foreign banks acting likewise, resulting in money becoming dearer throughout the world while still leaving London favourable as a borrowing market for foreigners.
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Auckland Star, Volume LX, Issue 231, 30 September 1929, Page 7
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89FORCE FOREIGNER OUT Auckland Star, Volume LX, Issue 231, 30 September 1929, Page 7
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