CHEAP MONEY
-- — 1 " - —-—- FRENCH BANK RATE DOWN. NOW 2?. PER CENT. Girled Brens Assn .Dr El. Tel- Copvrtgli(Received Afav 2, 5.5 p.m.) PARTS. May 1. The bank rate has been reduced to 23 per cent. BRITISH BORROWERS WON’T BENEFIT. United Press Assn, by El. Tel Coovright (Received Alav 2, 11 p.m.). LONDON. A fay 2. The Dai!v Aiail says that the simultaneous lowering or the British, French and Belgian bank rates points to the co-operation on the part of the world’s centra] banking authorities and indicates that arrangements have been made to avoid big gold movements. The Bank of France’s reduction to 2 1-1 per cent, is the lowest since DOS. British trade and industry is not exacted to greatly benefit from the reduced rate, as the big banks are refusing to lend to customers at below the minimum of five per cent., irrespective of the changes in the bank rate.
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Bibliographic details
Gisborne Times, Volume LXX, Issue 11196, 3 May 1930, Page 5
Word Count
151CHEAP MONEY Gisborne Times, Volume LXX, Issue 11196, 3 May 1930, Page 5
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