BANK RATE RISE RUMOURED
LONDON FINANCIAL DREARINESS. LIBERTY OF BANK OF ENGLAND. By Telegraph—Press Assn. —Copyright. Received Oct. 13, 11 p.m. Sun Cable. London, Oct. 13. From the city’s viewpoint the present month is the dreariest for many years, all causes combining to discourgc investment activity. Although the first rumours regarding the extent of the Hatry group losses may now definitely be discredited it is apparent the financial complications resulting from the crash will bo even more complex than originally expected. Meanwhile the, bank rate makes borrowing practically out of the question for Speculators dealing on small margins. Other causes of depression are the general exhaustion of ready money following the end of the holiday season and the continued uncertainty regarding the. Government's financial intentions, which is not likely to be allayed before the House meets. The Rt. Hon. Philip Snowden’s recent statement emphasising the complete independence of tLe Bank of England from the Government is generally regarded as the month’s solitary bright financial event, but there are persistent rumours that the worst has not yet come and the bank rate may bo raised a half per cent, though there have been no outstanding features for a fortnight.
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Taranaki Daily News, 14 October 1929, Page 9
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198BANK RATE RISE RUMOURED Taranaki Daily News, 14 October 1929, Page 9
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