RANK RATE
(Press Assn.—
english reduction boom in gilt edge stock sets several new records STIMULATING TRADE
-By Telegj-aph — Copyright).
Rec. July 1, 7.50 p.m. LONDON, Friday. The reduction of the hank discount 3 rate, from 2£ to 2 per cent., which is now the lowest it has been since i • 1897, gave new impetus to the boom j in gilt edge stock, which reached sev- ' eral high records. An enormous amount of busiixess was done. i ] The Morning Post financial editor i says that the reduction refleets a ( lacjc of demand for loanable money. : Indirectly cheaper money may help j to stimulate trade, enabling indus- s trial concerns to raise money on easier terms, which is causing the i demand for gilt edge stock. ■ : The Bank of England rate is the lowest of any central bank except i Switzerland. i
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Bibliographic details
Rotorua Morning Post, Volume 2, Issue 265, 2 July 1932, Page 5
Word Count
141RANK RATE Rotorua Morning Post, Volume 2, Issue 265, 2 July 1932, Page 5
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