MONEY TO BE CHEAPER.
BANK RATE AGAIN REDUCED. DOWN TO SIX PER CENT. By Telegraph.—Preus Assn.—Copyright. London, June 23. The bank rate has been reduced from 6J to 6 per cent. Following on a reduction in April from 7 to 6J per cent, thia further fall is u welcome sign of money being more plentiful and the removal of a restriction on trade and industry. On April 15, 1920, the bank rate was raised from 6 per cent, to 7 per cent., where it remained until April 28 last, when it waa reduced to 6*s per cent. This waa the first occasion on which the rate had been reduced by a half per cent, when over five. Its lowest point during tho war years Was 5 per cent., but that rate prevailed for long periods, including the whole of 1915. In 1916 the average was £5 9s 3d, in 1917 it was £5 3a, in 1918 £5, and in 1919 £5 3s. In 1913, the year prior to the war, the average waa £4 los sd, and in 1912 it was £3 Lss sd.
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Taranaki Daily News, 25 June 1921, Page 4
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184MONEY TO BE CHEAPER. Taranaki Daily News, 25 June 1921, Page 4
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