Business & Finance: Boston Reserve Bank Rate

Bankers have for some time been predicting slightly higher money rates for this winter. The first official recognition of this coming trend was supplied by the quite unexpected action of the Boston Reserve Bank in moving its rediscount rate up from 3½% to 4%. It is now expected that the New York Reserve Bank will soon follow suit with a similar rate advance, and that the ten other Reserve Banks will shortly swing into line by a similar action.

Two features of the Boston rate-action have puzzled bankers, particularly in New York. They wonder...

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