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1 A trading range, set by upper and lower limits, of a commodity or currency. The European Monetary System and Bretton Woods system (see Bretton Woods Conference) both established such ranges within which currencies were permitted to move.

2 Four ranges of maturities set by the Bank of England to influence short-term interest rates in the money market. They are set on Treasury bills, local authority bills, and eligible bank bills (see eligible paper); band 1 is from 1 to 14 days, band 2 from 15 to 33 days, band 3 from 34 to 63 days, and band 4 from 64 to 91 days.

Subjects: Financial Institutions and Services.

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