CREDIT AVAILABLE
FOR INCREASING BRITISH TRADE CONTROLLING THE BOOM-LIKE CONDITIONS NO FEAR FOR STERLING’S FUTURE (United PreHa Association— By Electric Telegraph— Copyright) (.Received 21st December, 9.20 a.m.) LONDON, 20th December. One of the sensations of the week has been the Bank of England’s purchase of £05,000,000 from the Equalisation Fund, which encourages the view that the authorities do not fear the future of sterling. A simultaneous reduction in the fiduciary issue in order to prevent the unjustifiable extension of the credit basis shows that the authorities do not intend to allow the boom-like conditions to get out of hand. The question of the probability of the hardening of money rates is at present much discussed, but there is no indication that the Treasury considers a change in the monetary conditions desirable. Plenty of credit is still available for the increasing trade activity.
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https://paperspast.natlib.govt.nz/newspapers/NEM19361221.2.64
Bibliographic details
Nelson Evening Mail, Volume LXX, 21 December 1936, Page 5
Word Count
142CREDIT AVAILABLE Nelson Evening Mail, Volume LXX, 21 December 1936, Page 5
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