§ 53. Mr. Thorneasked the Chancellor of the Exchequer what was the rate of interest on Treasury Bills three weeks ago; what was the rate of interest on Friday, 15th September; and what was the cause of the difference?
§ Sir J. SimonThe average rate of interest on Treasury Bills tendered for on 1st September (approximately three weeks before the hon. Member tabled his question) was £3 14s. 3d., the corresponding rate on 15th September was £ 3 11s. 1d., and on 22nd September £3 6s. 1d. The fall in the rate was due to a greater demand for Bills, reflecting increased cash resources of the banks and a clearing of the financial position.