Citibank cuts prime from 16 1/2% to 16%

Citibank, the country's second-largest bank, lowered its prime rate to 16 percent from the 161/2 percent level that has prevailed in the banking industry since February.

No bank immediately followed Citibank's move, which came after a decline in money-market interest rates which has reduced the bank's cost of funds, analysts said.

You've read 3 of 3 free articles. Subscribe to continue.
QR Code to Citibank cuts prime from 16 1/2% to 16%
Read this article in
https://www.csmonitor.com/1982/0526/052616.html
QR Code to Subscription page
Start your subscription today
https://www.csmonitor.com/subscribe
CSM logo

Why is Christian Science in our name?

Our name is about honesty. The Monitor is owned by The Christian Science Church, and we’ve always been transparent about that.

The Church publishes the Monitor because it sees good journalism as vital to progress in the world. Since 1908, we’ve aimed “to injure no man, but to bless all mankind,” as our founder, Mary Baker Eddy, put it.

Here, you’ll find award-winning journalism not driven by commercial influences – a news organization that takes seriously its mission to uplift the world by seeking solutions and finding reasons for credible hope.

Explore values journalism About us