HIGHER BANK RATE
TO CHECK FOREIGN LOANS..
(Australian Press Assn.) (By Cable—Press Assn. —Copyright.)
(Reed. Sept. 30, 10.30 1 a.m.) LONDON, September 29.
One explanation of the increase in the bank rate is that the Bank of England is attempting to force the foreign borrower to seek accommodation elsewhere, thereby preserving British capital for British industry. The only real danger appears in the possibility of the Federal Reserve and other foreign banks acting likewise, resulting in money becoming dearer throughout the world, while still leaving London favourable as a borrowing market for foreigners.
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Greymouth Evening Star, 30 September 1929, Page 5
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93HIGHER BANK RATE Greymouth Evening Star, 30 September 1929, Page 5
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