BANK RATE.
ANOTHER DROP. Further Reduction in England to 4 Per Cent. SECOND FALL THIS YEAR. (United P.A.-Electric Telegraph-Copyriglu) . (Received 11.30 a.m.) LONDON, March 6. The bank rate has been reduced to 4 per cent.. The reduction of the Bank of England discount rate to 4 per cent is very welcome news, not merely because it is a reduction, but because it indicates that monetary conditions in Europe and America are becoming more settled after a year of advances and stringency the world over. There have been seven changes in the Bank of England rate since February of last year, as under:—February 7, 5V2 per cent; September 26, 6% per cent; October 31, 6 per cent; November 21, 5V2 per cent; December 12, 5 per cent; February 6, 4V& per cent; March 6, 4 per cent.
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Bibliographic details
Auckland Star, Volume LXI, Issue 56, 7 March 1930, Page 7
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136BANK RATE. Auckland Star, Volume LXI, Issue 56, 7 March 1930, Page 7
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