PROVIDENTIAL GOLD.
MILLION FROM AUSTRALIA TO ASSIST BANK OF ENGLAND,
Telegraph-Press Assn .-Copyright.) (Received This Day, 8.45 a.m.) MELBOURNE, This Day.
Gold coin valued at a million sterling lias been shipped to London by the Commonwealth Bank of Australia.' It lias been sold to the Bank of England, and will assist in building up that ■bank’s gold reserve, which has recently been steadily depleted by the Con ■tineutal powers..
MAY PREVENT INCREASE OF BANK RATE.
' (By Telegraph-Press Assn. -Copyright.) (Received This Dav, 5.45 a.m.) LONDON, August 22. The- Daily Express says that the gold from the Commonwealth Bank will certainly help to strengthen the Bank •«f England’s position against autumn demands. On several occasions in the past the situation has been saved by the receipt of gold from unexpected sources, and it seems as-it' the same is happening again. The market is consequently more hopeful that an increase- in the bank rate will be avoided.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/HC19290823.2.23
Bibliographic details
Horowhenua Chronicle, 23 August 1929, Page 5
Word Count
155PROVIDENTIAL GOLD. Horowhenua Chronicle, 23 August 1929, Page 5
Using This Item
NZME is the copyright owner for the Horowhenua Chronicle. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence . This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in