Managed Currency for Britain
MEANING OF EXCHANGE STABILISATION. Received Wednesday, «9.50 p.m. LONDON, April 20. The city naturally regards the Exchange stabilisation plans as the most important feature of the Budget and cordially approves. The Financial Times says the need of such a fund is selfevident. The tide of liquid capital has set so strongly towards Britain that it might cause the sterling to soaj: in the absence of a balancing influence and reduce our trade advantage, while dislocation would follow any subsequent marked outward movement of iunds. The existence of a large fund is a safeguard against the Budget situation being thrown out of balance and a warning to speculators that resources are available to prevent injury to the sterling trading interests.
The Daily Herald’s city editor Interprets the decision as meaning that the Government has now definitely decided to embark on a prolonged period of currency management.
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Manawatu Times, Volume LV, Issue 6839, 21 April 1932, Page 7
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149Managed Currency for Britain Manawatu Times, Volume LV, Issue 6839, 21 April 1932, Page 7
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