CHEAP MONEY
LOWERING OF THE FRENCH BANK RATE VICTORY FOR M. REYNAUD’S POLICY. STOCKS & SECURITIES GAINING GROUND. By Telegraph—Press Association—Copyright. (Received This Day, 1 p.m.) PARIS, January 3. M. Reynaud’s cheap money policy scored a further victory when the Bank of France decided to reduce its discount rate to two per cent, the lowest figure for two years. It is also the current English and Dutch rate. The bank has also reduced the securities advance rate from 31 per cent to three per cent and thirty day advances from 21 per cent to two per cent.
Government stocks and industrial securities are gaining ground as a result of the passing of the Budget.
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Wairarapa Times-Age, 4 January 1939, Page 6
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113CHEAP MONEY Wairarapa Times-Age, 4 January 1939, Page 6
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