BANK RATE
REDUCED IN U.S.A. BY FEDERAL RESERVE. (United Press Association—By Electric Telegraph—Copyright.) <Received this day at 10.15 a.m.) NEW YORK, June 23. The Federal Reserve. Rank .of New York to-day cut the rediscount rate t<> -wo and a half per cent, from three. The reduction of this rate, which is the rate at which members of banks may borrow at the Reserve. Bank, had been expected, when the Reserve began its vigorous credit expansion programme through buying United .States Government securities in April 1 . , The heavy outflow of gold tended to offset the reserve programme. With the outflow virtually ended, when the Bank of France completed th e transfer of her balances recently, it became .feasible for the Reserve Bank to take another step towards facilitating the ‘ free flow of credit. - -
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/HOG19320624.2.43
Bibliographic details
Ngā taipitopito pukapuka
Hokitika Guardian, 24 June 1932, Page 5
Word count
Tapeke kupu
132BANK RATE Hokitika Guardian, 24 June 1932, Page 5
Using this item
Te whakamahi i tēnei tūemi
The Greymouth Evening Star Co Ltd is the copyright owner for the Hokitika Guardian. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Greymouth Evening Star Co Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in