Bank of England raises Bank rate to 10 percent
Citations (1)
- Lords of Finance whole source · open book
Its bullion reserves fell from over $130 million on Wednesday, July 29, to less than $50 million on Saturday, August 1, when the Bank, to attract deposits and conserve its rapidly diminishing stock of gold, announced that it had raised its interest rates to an unprecedented 10 percent.
chapter: 2. A STRANGE AND LONELY MAN - Britain: 1914