BANK RATE REDUCED.
DOWN TO 3}i PER CENT. STiarui-us to trade. LONDON, June 15. The Bank of Kup land rate for best bills at :! months, which has stood at 4 per cent since April 13, was to-day reduced to :t» per cent. [-"inancial and commercial cireb-s welcome the reduction to the. lowest, since .laiiuary, 1014, as an indication that conditions are moving towards* normality. Tin' reduction will stimulate the recovery of commerce. It is believed tlu't the governor* of the Bank of Knglane'i were influenced in their decision by th- imn-oved outlook for labour and ever Ireland, ami were also desirous of mak'ng the Indian loan a success. ( heap money is essential as other extensive loan opcrn'inns are imminent. — (A. and N.Z. (able.) | LONDON WOOL SALES. ! CROSSBREDS NOW STEADIER. LONDON". June 13. At the wool sales a belter selection was offered i<. u">ud Continental and Home competition. Topmakini sorts brnueht late rates, while i-rowbrcils were steady and unchanged. The New Zealand Gear clip brought ISJd top, and 12d At" Ilra.lford little business offered. and quotations were irregular, fit's bringin..' 54d t<. 5.h1. r.n's 31d to 32d: fifties 22 1 .— lA. nm! N.Z. Cable.)
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Bibliographic details
Auckland Star, Volume LIII, Issue 141, 16 June 1922, Page 2
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193BANK RATE REDUCED. Auckland Star, Volume LIII, Issue 141, 16 June 1922, Page 2
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