TIGHTER MONEY
RE-DISCOUNT RATE RAISED,
STEADYING STOCK MARKET,
(Received 2 p.m.)
NEW YORK, February 2
The New York Federal Reserve Bank has raised the re-discount rate to 4 per cent. The change is expected to have an instant effect upon the Stock Market, which lately-jhas been unduly speculative.
The Federal Reserve Board was regarded as definitely committed to a policy of tighter money, iand the other ten Federal centres 'will probably follow the lead of New York, Chicago and Richmond, all three of which are now charging 4 per cent.—A. and N.Z.
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https://paperspast.natlib.govt.nz/newspapers/NA19280203.2.45
Bibliographic details
Northern Advocate, 3 February 1928, Page 5
Word Count
92TIGHTER MONEY Northern Advocate, 3 February 1928, Page 5
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