CITIBANK LOWERS AUSTRALIAN PRIME RATE TO 16 PCT
Citibank Ltd said it would lower its
Australian prime rate to 16 pct from 16.5, effective tomorrow.
    The new rate, if unmatched by other banks, will be the
lowest among Australian trading banks. Other primes range from
16.25 to 17.5 pct.
    Australian prime rates have now retreated from a recent
peak of 19 pct in October in line with declining money market
levels. Citibank said its reduction reflected the decline.
 REUTER
