THE MONEY MARKET.

Manawatu Standard, Volume LVIII, Issue 230, 27 August 1938, Page 6

THE MONEY MARKET.

OF ENGLAND RETURNS. LONDON, Aug. 25. The following is the Bank of England return :

remains unchanged at 2 por cent. BANK AND MARKET RATES. LONDON, Aug. 25. The Bank of England rate of discount is 2 per cent., to which it was reduced from 2£ per cent, on June 30, 1932. Discount and short-loan interest rates are quoted as follows:—Day-to-day loans, & per oent; fine trade bills, three months, 2 to 2£ por cent; hank bills, three months, 9-16 per cent; six months, 9-16 per cent; Treasury bills, two months, £ per oent; three months, £ por cent. NEW YORK, Aug. 25. Call money is quotod unchanged at 1 per cent.

ISSUE DEPARTMENT. \ Notes in circulation Notes in banking department Other Government securities .... 478.700,000 ... 47,700,000 ... 188,300,000 ,... 700,000 Nil BANKING DEPARTMENT. Bankers’ deposits 1 .... 101,600,000 .... 3.600.000 Public deposits 23,900,000 Discounts and advances 6,300,000 Government securities 101,900,000 Notes and coin 48,900,000 Other accounts 34,100,000 Other securities 20,600,000 llatjo of reserve to liabilities 30.67 per cent. ' The Bank of England discount rate