BANK RATE
REDUCED TO 3 PER GENT
Press Association—By Telegraph—Copyright.
LONDON, July 13. (Received July 14, at 1.15 a.m.) The bank rate is 5 per cent.—A. and N.Z. Cable.
The reduction in the bank announced makes a. total fall of 34 ‘ points from the pesk of April 15-28, 1920. Following arc details of the changes in the rate in recent years:
ISll.—January 26, 4 ; February 16, 34; March 9,3; September 21, 4. 1912.—February 8, 34; May 9,5; August 29, 4; October 17, 5. 1915.—April 17, 44; October 2, 5. 1914 —January 8, 44; January 22, 4; January 29, 3; July 30, 4; July 51, 8; August 1, 10; August 6,6; August 8, 6. 1915.—N0 change.
1916. .July 15, 6. 1917. January 18, 54; April 6, 5. . 1918. —No change. 1919. —November 6, 6. 1920. —April 15, 7. 1921. April 28, 64 ; Jane 23, 6; Julj 21, bh ; November 3, 5. 1922. February 16, 44; April 13, 4; Juno 15, 54-
The rate w-as at a higher average level throughout 1920 than in any previous year since the Act of 1844, though there have been occasions when a much higher rate was in farce for shorter periods. As regards low rates, on April 1, 1903, the rate was reduced from 3 per cent, to 24 per cent., remaining at the latter tiguro for over six months.
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https://paperspast.natlib.govt.nz/newspapers/ESD19220714.2.44
Bibliographic details
Evening Star, Issue 18020, 14 July 1922, Page 4
Word Count
225BANK RATE Evening Star, Issue 18020, 14 July 1922, Page 4
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