TOPPLING DOWN.
DISCOUNT RATE. Bank of England Drop To 3 Per Cent. LOWEST SINCE 1923. (United P.A.—Electric Telegraph—Copyright) LOXDOX, May 1, The discount, rate of the Bank of England was to-day reduced to 3 per cent. The last alteration, the reduction from 4 to 3% per cent, was made on March 20. Bank rate was last, at 3 per cent from July ]3, 1922, to July 5, 1923. The last occasion on which 2Vs per cent was the rate was from May 29, 1908. to January 14, 1909. The "traditional minimum" of 2 per cent has not been in operation since 1897.
NEW YORK REACTS. REDISCOUNT RATE DOWN. (Received 10 a.m.) NEW YORK, May 1, The Federal Reserve Bank has reduced the rediscount rate from 3A to 3 per cent. FRENCH LOW LEVEL. DROP TO 2h PER CENT. (Received 1 p.m.) PARIS, May 1. The bank rate has been reduced to 2J per cent.
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Auckland Star, Volume LXI, Issue 102, 2 May 1930, Page 7
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154TOPPLING DOWN. Auckland Star, Volume LXI, Issue 102, 2 May 1930, Page 7
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