BANK RATE REDUCED
France Eases Austerity (N.Z. Press Association—Copyright) PARIS, October 6. The French Government today gave the nation’s economy a shot in the arm to increase home consumption. The Bank of France lowered its discount rate from 4 per cent, to 3.5 per cent., American Associated Press reported. The bank clearly indicated it felt that inflation was no longer an immediate threat, and that the economy could easily stand an “easy money” policy. The de Gaulle regime has in record time put France’s brink-of-disaster economy on sound footing. The currency is stable, the stock market active, and the nation’s coffers practically empty when de Gaulle took power in May, 1958—are well furnished, the news agency said. In September, France took in more than £35 million worth of foreign currency. With this it paid back more than £2B million worth of foreign debts.
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Press, Volume XCIX, Issue 29330, 8 October 1960, Page 13
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143BANK RATE REDUCED Press, Volume XCIX, Issue 29330, 8 October 1960, Page 13
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