Word: poundingly
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...Pont and Allied Chemical-were underpriced. Such a situation was tempting to the mutual funds, which have been waiting for the right moment to buy at bargain rates. Then, too, there was good news: the elections in Viet Nam; the decision by the U.S. to buttress Britain's pound with more credits; the prediction by G.M. that next year's car sales will reach...
...point last week, the value of the pound sterling dropped to $2.7866, lowest since July's crisis, when devaluation seemed inevitable. Also last week, the ailing pound required another dose of credit. Yet despite such news, prospects for the pound were actually beginning to look...
...Swap Facilities." Even more significant for the future of the pound was last week's increase in credits available to Britain. The move was arranged through what are called "swap facilities," a system under which countries pledge to support each other's currencies by exchanging funds in case of trouble. Four years ago, Britain and the U.S. negotiated such a swap; later the U.S. and seven European nations, plus Canada, Japan and the Bank for International Settlements, negotiated another swap to stabilize the currencies of the nations involved...
...with them. He rejects the use of armed force, partly because it would be political suicide for his Labor Party at home. He is afraid to plug the holes in his economic blockade by extending the sanctions to South Africa, whose gold is a prop for the sagging British pound. At the same time, Wilson wants desperately to win in Rhodesia. He is convinced, as are many members of his government, that unless Britain can prove its good intentions, the Commonwealth will eventually disintegrate entirely...
...steps: freezing wages and prices throughout Britain for six months, to be followed by another half-year of "great restraint." The wage freeze is the more important in the gimlet eyes of Britain's foreign creditors, who have put up more than $3 billion to defend the pound. For if Wilson cannot hold down wage increases in a period when his other taxation and monetary measures are taking hold, all credibility in the value of the pound will be undercut; British export costs, swollen by excessive wage gains, will rise, slowing foreign sales of everything from cars...