ANZ BANKING GROUP CUTS PRIME RATE TO 16.00 PCT
The Australia and New Zealand Banking
Group Ltd <ANZA.S> said it will cut its prime rate to 16.00 pct
from 16.50, effective June 22.
    The cut takes the ANZ's prime to the lower end of the range
of prime rates being offered by Australian trading banks. The
highest rate is 17.50 pct.
    The cut follows announcements of cuts yesterday by
<Citibank Ltd> to 16.00 pct from 16.5, effective today, and
<Commonwealth Bank of Australia> to 15.75 pct from 16.25,
effective June 24.
 REUTER
