CANADA BANK RATE RISES TO 8.59 PCT
Canada's bank rate rose marginally to
8.59 pct from 8.58 pct last week, Bank of Canada said.
    The bank rate is set one-quarter percentage point above the
average yield on the weekly issue of 91-day treasury bills.
This week's yield was 8.34 pct, compared with the previous
week's 8.33 pct.
    Tenders were accepted for 2.20 billion dlrs of 91-day bills
at an average price of 97.963 dlrs against 97.965 dlrs last
week.
    The 1.20 billion dlrs of 182-day bills were priced at an
average 95.852 dlrs against 95.779 dlrs last week, to yield an
average 8.68 pct against 8.84 pct last week.
    The 500 mln dlrs of 364-day bills were priced at an average
91.712 dlrs against 91.529 dlrs last week, to yield an average
9.06 pct against 9.28 pct last week.
    Tenders will be received next week for 2.20 billion dlrs of
91-day bills, 1.20 billion dlrs of 182-day bills and 500 mln
dlrs of 364-day bills.
 Reuter
