10 AUGUST 1889, Page 3

The Bank raised its rate of interest on Thursday from

24 to 3 per cent., a decision which was justified by the large with- drawals of gold which the Bank accounts showed. £631,000 has been withdrawn in gold, and as only £94,000 is known to have left the country, there is some little mystery as to the balance. It is generally supposed that there is at this time of year an increased need of coin for the harvesting and other internal business of the country. It is probable that the Bank rate will be 4 per cent. in another month, as it was last year. The rise to 3 per cent. last year took place at exactly the same date,—namely, on Thursday, August 9th.