THE BANK RATE.
REDUCTION IN ENGLAND. DUE TO FALL IN DISCOUNT RATE (United Press Association—Copyright.') LONDON, March 7. The Bank rate was to-day reduced from Ah per cent, to 4 per cent. The last time this rate was declared was in October. 1925. During last •wear five changes were made, the rate Varying from 5 per cent, to 6i per cent. If may bo recalled that the latter high rate was largelv due to the speculative boom but it had the effected' bringing about a heavy deflation, and releasing a large volume of surplus funds. There is still uncertainty over the continued foreign demand for gold, but the definite influence which has decided the Bank to lower the official minimum is the fall in the discount rates in New York and the indication that the Federal Reserve Bank will reduce its discount rate in due.course. REDUCTION IN BERLIN.
(Received This Day, 9.35 a.m.) BERLIN, March 7. The hank rate has been reduced to 5i per cent. r-
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Ashburton Guardian, Volume 50, Issue 125, 8 March 1930, Page 5
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167THE BANK RATE. Ashburton Guardian, Volume 50, Issue 125, 8 March 1930, Page 5
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