MONEY IN LONDON
NORMAL TONE RESTORED CREDIT POSITION EASY. NO GREAT INCREASE IN VOLUME OF BUSINESS. By Telegraph—Press Association —Copyright. (Received This Day, 12.30 p.m.) LONDON, November 4.
Normalcy has been restored the money discount markets and sterling has become stable, although there is an undertone against dollars which generally are rather weak.
The credit position is easy, as is indicated by the £9,000,000 rise in bankers’ deposits shown by the Bank of England return. Cheered by Mr Neville Chamberlain’s review of foreign affairs, an improvement in market sentiment has made appreciable headway, although, as previously, it is not accompanied by any substantial increase in the volume of business. The diminishing likelihood of inflation has improved the outlook for gilt-edged securities which led to the recovery.
Colonials revived, after being adversely influenced by the prominence given to the German colonial demands. Foreign bonds, notably Czechs, have moved up.
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Wairarapa Times-Age, 5 November 1938, Page 6
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148MONEY IN LONDON Wairarapa Times-Age, 5 November 1938, Page 6
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