Word: rediscount
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...very sensational, after all. Yet the drop in rates has come so quickly that considerable disarrangement has been produced. The savings banks, which in Manhattan have been paying 4% on deposits, have decided to continue that rate. But there is further talk of reducing the New York Federal Reserve rediscount rate from 3½ to 3% in order to bring it into closer relationship in the market rates. Yet opposition to such a step has developed, on the grounds that the present surplus of funds will not long continue, that inflation may be caused by too low rates, and that...
...rediscount rate of the New York Reserve Bank compares with the rates of the other leading central banks of the world as follows: Austria 12, Belgium 5½, Bulgaria 7, Czecho-Slovakia 6, Denmark 7, England 4, France 6, Germany 10 (cen-tenmarks) and 90 (old paper marks), Greece 7½, Hungary 18, India 7, Italy 5½, Japan 8, Holland 5, Norway 7, Poland 12, Portugal 9, Rumania 6, South Africa 6, Spain 5, Sweden 5½, Switzerland...
...bankers here so firmly clapped the brakes on the money market that talk of inflation, 'despite our ever-increasing stocks of gold, is dying out. Strong opposition has developed to any lowering of the Federal Reserve rediscount rates for the present. Money is easy, although becoming somewhat firmer on increased seasonal demand...
Financial opinion is divided into two hostile camps on the question as to whether the present 4½% rediscount rate of the Federal Reserve banks can and should be maintained, in the face of many factors which would normally make for a speedy reduction in the rate...
Money remains easy, although the bankers continue rates which are high in proportion to market conditions. The main justification for this policy is of course the fear of inflation. Nevertheless, declining earning assets of certain Federal Reserve banks may be a contributory cause. The expectation of a lowered rediscount rate is general; it is felt that this move is after all the "ace-in-the-hole" of the party which has undertaken to make this Presidential year one of prosperity and confidence. Much "bull ammunition" has already been shot off, such as U. S. Steel's extra dividends...