• Short Summary

    THE NATIONAL BANK RATE IN BRITAIN WAS RAISED TODAY (MONDAY) FROM FIVE TO SEVEN PER CENT.

  • Description

    THE NATIONAL BANK RATE IN BRITAIN WAS RAISED TODAY (MONDAY) FROM FIVE TO SEVEN PER CENT. THIS MOVE WAS MADE BY THE BRITISH GOVERNMENT IN AN EFFORT TO STRENGTHEN THE INTERNATIONAL POSITION OF THE POUND STERLING.

    THE BANK RATE AFFECTS THE INTEREST CHARGE FOR DOMESTIC BORROWING IN BRITAIN. IT LAST STOOD AT SEVEN PER CENT IN 1961, BUT FEEL GRADUALLY UNTIL IN JANUARY 1963 IT STOOD AT FOUR PER CENT. IT WAS RAISED TO FIVE PER CENT IN FEBRUARY THIS YEAR.

    THE ANNOUNCEMENT CAME AS A SURPRISE TO MANY BANKERS AS BANK RATE CHANGES IN BRITAIN ARE TRADITIONALLY MADE ON THURSDAYS. BUT THE RESULT HAS BEEN AN IMMEDIATE STRENGTHENING OF THE POSITION OF STERLING ON EUROPEAN MARKETS.

    THE GOVERNMENT'S MOVE WAS EXPLAINED BY THE CHANCELLOR OF THE EXCHEQUER, MR. JAMES CALLAGHAN:

  • Tags

  • Data

    Film ID:
    VLVA7YQUS7CV3VKSW7GGJLQB60ITD
    Media URN:
    VLVA7YQUS7CV3VKSW7GGJLQB60ITD
    Group:
    Reuters - Source to be Verified
    Archive:
    Reuters
    Issue Date:
    23/11/1964
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Black & White
    Duration:
    00:01:30:00
    Time in/Out:
    /
    Canister:
    N/A

Comments (0)

We always welcome comments and more information about our films.
All posts are reactively checked. Libellous and abusive comments are forbidden.

Add your comment