BELGIUM CUTS TREASURY CERTIFICATE RATES
The Belgian National Bank cut interest
rates on one, two and three-month treasury certificates to 7.30
pct from 7.40 pct effective immediately, the bank said in a
telex message.
    The Bank last adjusted its short-term treasury certificate
rates on March 23, when it also reduced rates for all three
periods by 0.10 points.
    A National Bank spokesman said the latest adjustment would
bring the rates closer in line with currently prevailing
interbank interest rates.
    The spokesman said it was too early to predict whether the
move would herald a reduction in discount rate, which currently
stands at eight pct, when the Bank holds its regular weekly
meeting at which the rate is discussed next Wednesday.
    The discount rate generally moves in tandem with the
three-month treasury certificate rate. However, there is no
formal link and the discount rate was not adjusted following
the March 23 changes.
 REUTER
