REDUCED AGAIN
LONDON BANK RATE - DOWN TO 2 PER CENT, (Elec. Tel. Copyright —United Press Am-) (Received July 1, 10 a.m.) . LONDON, Juno 30. The Bank of England discount rate was further reduced to-day to 2 per cent, from 24 per cent. This is the sixth reduction in the rate since the beginning of the year. The first alteration on February 18 was from 6 to 5 per cent. Another reduction of 1 per cent, occurred on Ararch 10 and- tho remaining three steps have been of 4 per cent. each. The level of 24 per cent, reached on May 12 ruled from Alny 14 last year to July 23, when the first of the increases which preceded the financial crisis was made. Until then so low a level had not been experienced since 1909. Now tho reduction to -2 per cent, makes tho lowest ever recorded during the present century, a similar rate not having ruled since 1897..
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Bibliographic details
Poverty Bay Herald, Volume LIX, Issue 17820, 1 July 1932, Page 7
Word Count
159REDUCED AGAIN Poverty Bay Herald, Volume LIX, Issue 17820, 1 July 1932, Page 7
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