‘The price of supporting Canada’s’ wobbling dollar ’ took another upward leap on the weekend when Bank of - Canada: Governor. Gerald Bouey raised the bank rate. to 10.75 per cent from 10.25. per cent. The previous 10.25 per . cent rate, ‘set just over two weeks earlier, was already the highest in the Bank of Canada's s 43-year history. . . The move followed last. week’s action by President Jimmy Carter to fight in- flation there. | Reserve Board's: discount rate (the equivalent of the Canadian bank rate). was. “raised: to 9.5 per cent from 8.5 Per cent. a ‘Negotiations on the Mideast peace treaty ‘bet-. ween Israel and Egypt — plodded ahead in. Washington over the weekend, with - “Israeli . foreign minister. Moshe -- Dayan outlining to U.S. '. Secretary of State Cyrus -Mance certain technical. obstacles still standing in the - way of final accord.. They question | of ‘wu. Ss. financial CC Complete Lubrication SC) Check all fluid tevels. Differential, power steering, transmission, brake fluid. , Cl et ‘windshield washer and add G.M. OF eon 2 Change engine all C1. Change oll titer CO Check battery terminals ALL THIS FOR ONLY | in. the U.S. by- tightening the money supply | -The U.S. Federal © included the - The Bank of Canada hike _.was aimed at maintaining the - interest rate spread between ‘Canada and the U.S. in order to prevent an overflow of foreign capital from Canada . -- which would further weaken the Canadian doliar. | Chartered banks and other, | institutions | nor- financial mally move in step with the Bank of Canada bank rate. _On Monday the: Royal Bank ' of Canada. duly raised its. prime lending rate (the rate __ given to its most ‘credit- worthy business customers) : ~ to 11.5 per cent from. 11 ‘per Y cent. : we rate is ‘to increase ‘the in- terest earned ‘by depositors _in savings accounts and term deposits. But, at the. same - - time, it increases the cost of borrowing money | from support. for two “substitute - Israeli airfields in the Negev. © and the turnover to Egypt of _ Israeli-held oilfields in the ‘Sinai. U.S. officials conflict with Israel on the issue of aid. Meanwhile, said, | however, that there was no businesses, - mortgage holders. and consumer loan customers. _ The result i is tighter money for industrial and com-. _ mercial. expansion (which creates jobs); tighter money - for would-be home: buyers; money for - wanting to | and tighter | consumers “purchase big-ticket items like automobiles and ap- . -pliances. | Overall, it may mean a further . slowdown in economic. growth suggests continuing high unemployment. Meanwhile, — + the Canadian dollar — for — ‘The ‘effect of the: higher whose protection the latest. bank rate increase was undertaken = -- U. S. range. bought off from concding a peace treaty with Israel. Sadat was referring to an * offer by 20. other Arab | countries. attending an Arab | League. summit conference in Baghdad. ‘to provide $50: billion in aid to Egypt over Washington | peace negotiations. : No way, said Sadat. - os DON’ T LET ay ‘ ae Vz ‘ COLD TER. ae GET THE iin, —_— XEN) DROP ON YOU _ Drop in today for our. JONING SPECIAL | Remember— The weather doesn't wait. Come in now and drive with confidence in the months ahead. One Galion FREE Anti-freeze with this Fall Spocial C) Check upper & lower rad hose C) Check bypass hose & heater hoses C] Pressure test coolant system for leaks C) Check windshield wipers C] Top up co anti- fr C) Check brakes for wear and fluld leak C} Check allt lights “ome cooling system with one gallon 's 995 Plus Oli b Filters They Sinited Tima Only All G.M. Cars & Light Trucks | OPEN MONDAY THRU SATURDAY, 7:30 AM. To 6:00 P M. DICK IRWIN 27223" CHEVROLET OLDSMOBILE UD. #45 MARINE DR. NORTH VAN, ~~ would end . on the weekend. and . closed = Monday at 85.58 cents U.S. | During October it had sunk | at one point to the 83 cent, An urgent call for nuclear disarmament ‘and a Mideast accord were. among key" -- demands emerging from the ‘ three-day congress of the Socialist International which in Vancouver Congress president Willi Brandt, former chancellor of West Germany who resigned in 1974 following 2 spy _ scandal, told delegates from countries around the globe ‘that political stabilization in the eastern Mediterranean was a top priority. The world, he warned, would face “a dangerous confrontation” . if America and Russia failed to reach accommodation. on the Mideast peace treaty now On Merchandise & Mechanical i Repairs -Africa, being negotiated between & Asrael and Egypt. a Other congress resolutions | assed at the meeting in the Hyatt Regency included, called for an east-west detente, an end to racism in human rights, development in third world countries ard an end to the — power of multinational corporations. ‘A sour note was struck © when the congress formally. admitted Socialists to membership of the. International. Cypriot delegate Vassos Lyssarides ‘stormed out of the meeting in protest against the oc- cupation of 45 per cent of Cyprus by the Turks several years ago. the. 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