MONEY MARKET.
DISCOUNT RATE
BY CABLE—PRESS ASSOCIATION—pOPYRIfaHT, Received March 6, 12.35 p.m. LONDON, March 5. The Bank of England discount rate is five per cent.—Renter.
REASONS FOR INCREASE
"Received March 6, 1.25 p.m. LONDON, -March 5. The raising of the bank rate was x - generally expected after the increase of the New York rate last week, which caused considerable disorganisation of the money markets. To-day’s increase is intended to check the withdrawal of American money from .London. Money, though plentiful, now commands higher rates, hut it was generally understood that London and New York are dloselv co-operating, and fears for unduly high rates in the immediate future are groundless.—Reuter.
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Bibliographic details
Hawera Star, Volume XLVIII, 6 March 1925, Page 9
Word Count
109MONEY MARKET. Hawera Star, Volume XLVIII, 6 March 1925, Page 9
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