Word: rediscounted
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...reaction was obviously overdue. In such a situation, as has often been proved, the crash in prices can be and usually is attributed to almost any event whether it has any close bearing on the stock market or not. In this particular case it was raising of the rediscount rate of the Federal Reserve Bank of Boston from 3½% to 4%-a step occasioned by purely local conditions. Speculators in stocks, dealing in a market which had grown top-heavy of its own accord, evidently feared a similar rise in the rate of the New York Reserve Bank...
...financial sensation of the past week has been the completely unex- pected slash in the rediscount rate of the Bank of England, from...
...Churchill has declared that gold resumption shackled England only to present realities-a pointed and adequate retort. Already over ?1,000,000 in gold has been exported from England since assumption of the gold standard, with more to follow in all probability. The British are hoping that the rediscount rate of the Federal Reserve Bank of New York may be reduced -a step which will decrease the U. S. tendency to draw gold from England. In any case, it is not unlikely that 1925 will see a further advance in the rate of the Bank of England, designed to check...
...commodity prices as a whole registered their first decline for many months, but in the speculative markets the drop has been especially severe. Even the much-heralded intention to advance steel prices has apparently been abandoned. Thus it may be that the recent advance of the New York Reserve rediscount rate will mark a "turn" in business from expansion to contraction. Moreover, some lines of business, such as the textiles, have been poor all along...
...action of the Bank of England in raising its rediscount rate from 4% to 5% indicates the financial supremacy of the U. S., and foreshadows vigorous efforts of the British to challenge it in the near future by getting the pound sterling back on a gold basis this year. Probably the decision to take this step, momentous to trade recovery the world over, will be taken before summer...