International Marxist Group Archive

Magazines, bulletins and booklets of the IMG and its forerunners, 1961–1984

Bank Rate Excesses

The Week Vol. 6, No. 12, c. 6 October 1966 · p. 8 of the scan · 76 words

The scan: The Week v6 no12-13.pdf (PDF, Marxists Internet Archive, opens at this page)

Uncorrected machine reading. This text was read by machine (Tesseract OCR) from a scan of a stencilled typescript and has not been corrected. Expect misread words; titles in particular are often garbled where the issue printed no contents list. Quote from the scan, not from this page.
How this article was cut and titled: capitals heading; heuristic; title from the OCR of the heading.

The British bank rate has been raised sky high in an effort to increase our reserves: The 'Financial Times' estimates that our benk rate excesses have cost the U.K. something like 2,000 million dollars in overseas interest payments during the past 10 years. This has been increased enormously by Government borrowings from the I.M.F, and central bankers,

Wouli tie U.K, financial position be improved if we could detach our selves completely from our international banking activities?

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