EQUALISATION FUND
HEAVY PURCHASING BY BANK OF ENGLAND LONDON, December 20. One of the sensations of the week has been the Bank of England's purchase of £ 65,000,000 from the equalisation fund, which encourages the view that the authorities do not fear for the future of sterling. A simultaneous reduction in the fiduciary issue in order to prevent the unjustifiable extension of the credit basis shows that the authorities do not intend to allow the boom-like conditions to get out of hand. The probability' of the hardening of money rates is at present much discussed, but there is no indication that the Treasury considers a change in monetary conditions desirable. Plenty of credit is still available for the increasing trade activity.
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Bibliographic details
Press, Volume LXXII, Issue 21972, 22 December 1936, Page 11
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120EQUALISATION FUND Press, Volume LXXII, Issue 21972, 22 December 1936, Page 11
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