COMMONWEALTH BANK CUTS AUSTRALIA PRIME TO 17.5 PCT
The Commonwealth Bank of Australia said
it will lower its prime lending rate to 17.5 pct from 18.25,
effective April 15.
    The bank's new rate will be the lowest of Australia's
current prime rates. They now range from 17.75 pct to 18.5
after a recent series of reductions since late March following
an easier trend in short term money market rates.
    Two of the three other major trading banks now have prime
rates of 18 pct and one of 18.25.
    The Commonwealth's move reverses an increase from 17.5 pct
in early February.
 REUTER
