BRITISH BANK RATE
REDUCTION ANNOUNCED Press Association—By Telegraph—Copyright. LONDON, October 31. (Received November 1, at 10.15 a.m.) The bank rat© has been reduced to 6 per cent. [On September 26 the bank rate was raised from 5i per cent, to 6J per cent.] ______ FAVOURABLE EFFECTS. LONDON, October 31. (Received November 1, at 11.5 a.m.) The reduction in the bank rate is regarded as an indication that the emergency which caused the last advance has now passed. French demands for gold are expected to'cease for the tune reduction had an immediate favourable effect on the Stock Exchange, prices finning all round, notably gilt-edged securities, with Australians especially strong.
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Bibliographic details
Evening Star, Issue 20321, 1 November 1929, Page 9
Word Count
107BRITISH BANK RATE Evening Star, Issue 20321, 1 November 1929, Page 9
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