THE MONEY MARKET
UNCERTAIN BANK RATE. (By Telegraph—Press Assn.—Copyright.) LONDON, July 6. Fears that a rise in the bank rate is imminent, caused some uneasiness on the Stock Exchange and there has been some selling of gilt-edged securities with the result that prices eased all round. The decision to leave the rate unchanged last Thursday led to somewhat better feeling and slight recovery in prices, but the general impression seems to be that the bank rate will be raised before long unless the American exchange moves more favourably and the internal financal Situation improves. The most interesting event of the week has been the flotation of portion of the Hungarian reconstruction loan amounting to nearly £8,000,000 in 7| per cent, depentures at £BB. Including the redemption this loan yields over £8 16s per cent. It is not surprising that it was rapidly oversubscribed, the list being closed a few hours after opening.
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Southland Times, Issue 19290, 8 July 1924, Page 5
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152THE MONEY MARKET Southland Times, Issue 19290, 8 July 1924, Page 5
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