Bank Rate Increased
r/ LEGr:I. ~..,,:,.... i.: ..,.~ , C~,£P, "''°/~,''~ Vit~ ;::., , .::., ~bL VSV-1 :<4 TERRACE-KITIMAT RUPERT STEEL & SALVAGELTD. we buy COPPER BRASS ALL METALS & BATTERIES MON. - SIT, OPEN TIL 6 p,m. Location Seal Cove Phone 624-6639 Volume 72 No. 214 .~ Monday, November 6, 1978 UP AGAIN e , ,, .[ / . • ,:: , . " i~. ,~ . e, ., .:~'~ .~' • ~ "'~,'~ " ;~'~ ~,~,' "~J'~V - ~ ..... :'~ "7, . ~:~'~L'_,.*:'~'::~'.: :. Bank rate • ~i~::~/ increased -~[~B '~'*''~ . / .... OTTAWA (CP) -- The The rare Sunday an- would have to follow U.S. Bank of Canada announced nouncement followed a rates upward. The govern- Sunday an increase in its controversy late last week meat normally avoids ad- t .... ~,::L.:..; :..:, .:... , interest rate to 10.75 per cent when Prime Minister vance comment on key ~,-. ~ .:~C~ • .,. from 10,25 effective today, Trudeau effectively rebuked the signal for a further round Trade Minister Jack Homer economic moves to dis- of increases in borrowing after Horner had speculated courage speculation in charges generally. that Canadian interest rates financial markets. The increase was triggered by Washington'., action last week in raising the equivalent U.S. federal discount rate to a record 9,.= The actionwas per cent from 8.5 per cent. The jump in the Canadian central bank rate of one-half of one percentage point, in the hallways although halt" the magnitude of the U.S, move, is the third VANCOUVER (CP) -- few standing ovations ac- ..,:" .2:... .. " ~ .... i' such Canadian increase in There were dozens of corded speakers during the "., , . e~,,...~., ,,,~. eight weeks. The Canadian speeches delivered during three-day congress. <~,%~.~,3~..~ rate has risen from nine per the Socialist International Asking for financial and cent since Sept.
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