BANK OF FRANCE TO BUY FIRST CATEGORY PAPER TODAY
The Bank of France is to inject liquidity
against first category paper at a tender this afternoon, a Bank
spokesman said.
    Money market sources were divided as to whether they
thought the Bank of France would use the occasion to cut its
intervention rate, which has stood at 7 3/4 pct since it was
cut from eight pct on March 9.
    Some thought a rate cut unlikely given foreign exchange
turbulence and the U.S. Prime rate rise to 7 3/4 pct, while
others still counted on a 1/4 point cut by the Bank of France.
 REUTER
