SMALL HELP TO INDUSTRY
EFFECT OF LOW BANK RATE LONDON, Friday. The ‘‘Daily Mail” says the simultaneous lowering of the British, French and Belgian bank rates points to the co-operation of the world’s central banking authorities and indicates that arrangements have been made to avoid big gold movements. The new Paris rate of 2J per cent, is the lowest since 1898. British trade and industry are not expected to benefit greatly from the reduced rate, as the big banks are refusing to lend to their customers below a minimum rate of 5 per cent., irrespective of the changes in the bank rate.
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https://paperspast.natlib.govt.nz/newspapers/SUNAK19300503.2.156
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Sun (Auckland), Volume IV, Issue 962, 3 May 1930, Page 13
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102SMALL HELP TO INDUSTRY Sun (Auckland), Volume IV, Issue 962, 3 May 1930, Page 13
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