BRITISH FINANCE
CHEAP MONEY DRIVE
REDUCED BANK RATE
By Telegraph —Copyright —Press Assn. LONDON, May 13. The Daily Herald interprets the reduction in the bank rate as meaning that the Government and the Bank of England have definitely decided on a cheap money drive, and predicts a big conversion scheme, probably at the end of the month.
Both the money and stock markets warmly approved the reduction. The bank rate was lowered at 3 per cent, on April 21. The last occasion on which a 21 per cent, bank rate was fixed was on May 14 last year.
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Bibliographic details
Waipukurau Press, Volume XXVIII, Issue 119, 14 May 1932, Page 5
Word Count
98BRITISH FINANCE Waipukurau Press, Volume XXVIII, Issue 119, 14 May 1932, Page 5
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