BANK'S GOLD BUYING
QUESTION OF MONEY RATES
THE FIDUCIARY ISSUE
(Received December 21, 9 a.m.)
LONDON, December 20.
One of the sensations of the week has been the Bank of England's purchase of £65,000,000 from the Exchange 'Equalisation Fund, encouraging the View that the authorities have no fear of the future of sterling. The simultaneous reduction in the fiduciary issue in order to prevent unjustifiable expansion in the basis of credit shows that the authorities do not intend to allow conditions resembling boom to get out Of hand; The questl6n of the probability of a hard; ening of money rates is being much discussed at present, but there is no indication that the Treasury considers a change in monetary conditions desirable. Plenty of credit is still available, increasing trade activity.
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Bibliographic details
Evening Post, Volume CXXII, Issue 149, 21 December 1936, Page 13
Word Count
130BANK'S GOLD BUYING Evening Post, Volume CXXII, Issue 149, 21 December 1936, Page 13
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