BANK RATE INCREASED.
(Received 9.15 a.m.) LONDON, March 17. The Bank of England rate of discount for the best three months' bills was today increased from 3i per cent to 4 per cent. The bank rate varies from time to time, according to changing financial conditions. It is the price at which the Bank of England is willing to grant loans. A high rate necessarily restricts trade, and postpones the issue of loans. The bank rate largely determines the interest allowed by English banks for money on deposit. "
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Auckland Star, Volume XLI, Issue 66, 18 March 1910, Page 5
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88BANK RATE INCREASED. Auckland Star, Volume XLI, Issue 66, 18 March 1910, Page 5
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