BRITISH BANK RATE
FIXED AT THREE AND A HALF PER CENT. FIRST UPWARD MOVEMENT SINCE 1929. EFFECT ON GOLD WITHDRAWALS. (United Press Association—By Electric Telegraph.—Copyright.) Received July 24, 8.5 a.m. LONDON, Jul- 23. , The bank rate lias been fixed at 3J per cent. The Times’s City Editor says that it is the first upward movement in the bank rate since September of 1929. Tlio day’s gold withdrawals were a record, being over £5,000,000. RECEPTION BY NEWSPAPERS. (British Official Wireless.) Received July 24, 10.30 a.m. RUGBY, July 23. To-night’s papers are about equally divided regarding the decisions of the Seven Power Conference and the increase this morning in the Bank of England discount rate from 2i per cent, to 3-J per cent., with a view to checking the recent heavy withdrawals of gold. Some space is given to the postponed visit by the Prime Minister and the Foreign Secretary to Berlin. The visit will now take place at the beginning of next week.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/MS19310724.2.82
Bibliographic details
Manawatu Standard, Volume LI, Issue 199, 24 July 1931, Page 7
Word Count
162BRITISH BANK RATE Manawatu Standard, Volume LI, Issue 199, 24 July 1931, Page 7
Using This Item
Stuff Ltd is the copyright owner for the Manawatu Standard. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.