LONDON BANK RATE
INCREASE TO 4 PER CENT
(Reed. Aug. 25, 10 a.m.) LONDON, Aug. 24. The bank rate has been increased to 4 per cent. It has remained unchanged at 2 per cent since June. 30, 1932. Financial circles believe that the raising of the bank rate is designed to discourage withdrawals of foreign balances.
The decision is the result of a heavy call for money on the banks and is tantamount to placing the money market under the control of the Bank of England.
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Bibliographic details
Gisborne Herald, Volume LXVI, Issue 20026, 26 August 1939, Page 7
Word Count
86LONDON BANK RATE Gisborne Herald, Volume LXVI, Issue 20026, 26 August 1939, Page 7
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