BANK RATE UNCHANGED
DECISION OF THE BANK OF ENGLAND EXCEPTIONAL GOLD EFFLUX British Official IVireless LONDON, Thursday. After the weekly meeting today of the court of directors of the Bank of England, it was announced that there would be no change in the bank rate. Regarding the recent heavy shipments of gold to France, amounting to £12,000,000 in six weeks, financial correspondents explain that this gold efflux is an exceptional movement, and is not the result of unfavourable movement of the trade balance. Consequently tho decision to maintain the bank rate at 5J per cent, was in accordance with general expectation. PLANE CRASHES WITH GOLD While flying from London to Paris yesterday, a French airplane carrying a cargo of gold valued at £IOO,OOO was forced to descend at Smarden West, Kent. The machine stopped on the banks of the River Beult, and some of the boxes of gold were hurled into the water by the shock of the landing. The pilot and the mechanic were not hurt, but the undercarriage of the machine was damaged. The bullion was recovered from the river, and transferred to another machine, which took it to Paris.
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Sun (Auckland), Volume III, Issue 732, 3 August 1929, Page 9
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192BANK RATE UNCHANGED Sun (Auckland), Volume III, Issue 732, 3 August 1929, Page 9
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