THE BANK RATE.
It wjte announced by cable yesterday that the Bank of England rate had again been increased to 5 per cent. It will be remembered that the rate was 5 per cent, in October of last year, but it was reduced to 4J per cent, in April. The cause of the; pre l sent hardening is* probably the immense demand by the Balkan States and fyy the overseas Dominions for develop-nental purposes. There is little prospect, in all the circumstances, that the anticipations of ther Prime Minister of New Zealand that money will be easier in the near future, will be realised. The Bank of England is tlu> barometer of the world's) money market, and when rates are increased by that institution it is safe to assume that the demand for money is much greater than the supply. In consequence of the hardening, the Dominion Governments will be compelled to pursue a "go slow" policy and private institutions would do well to practise economy.
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Wairarapa Age, Volume XXV, Issue 10713, 4 October 1913, Page 4
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166THE BANK RATE. Wairarapa Age, Volume XXV, Issue 10713, 4 October 1913, Page 4
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