FRENCH BANK RATE
INCREASE TO 6 PER CENT SEQUEL TO FLOW OF GOLD PARIS, May 6 In Qonsequence of tho financial "scare" revealed by tho heavy despatch of gold by air to London, tho discount rate of the Bank of France has been raised to 6 per cent. Other rates also have been raised. The French bank rate was reduced on February 6 from 5 per cent to 3£ per cent. The higher rate had been fixed on December 31, 1935. Ihen, on March 28. the rate was raised again to 5 per cent following "bear" attacks on the franc, whibh that morning reached the gold export point. This was regarded as a further indication of the Government's intention to remain on the gold standard. According to a messages on April 11 the increased rate had proved a failure, and selling pressure was being continued.
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New Zealand Herald, Volume LXXIII, Issue 22413, 8 May 1936, Page 11
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145FRENCH BANK RATE New Zealand Herald, Volume LXXIII, Issue 22413, 8 May 1936, Page 11
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