BANK RATE DOWN
WELCOMED IN ENGLAND. (Br itish Official Wireicss.j RUG MV, May 14. _ The leduetion in the Bank of England discount rate to per cent was welcomed on the Stock Exchange when the announcement was made, and in business circles. It is hoped that me easier finance will stimulate a trade recovery, “BEST NEWS FOR MONTHS” AUCKLAND. May 15. “It, is the host news we have had for many months.” said Dr. Neale, secretary of the Auckland Chamber ot Commerce, commenting on the lowering of the Bank of England discount rate. “Experience has shown-that a low rate is sooner or later reflected in higher prices for New Zealand’s staple exports. As the impression is fairly widespread that' wool has reached rock bottom, a low bank rate is likely t<encourage the buying of wool in anti -i----pation of a rise. The effect may not be inaniefst in New Zealand for a month or two. but ceft’ainly the outlook is much more favourable.” A prominent banking authority agreed that the lowering of ‘the . bankrate was a hopeful sign.
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Hokitika Guardian, 18 May 1931, Page 3
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177BANK RATE DOWN Hokitika Guardian, 18 May 1931, Page 3
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