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To: CigarHolder who wrote (22335)7/26/1999 6:25:00 PM
From: allen v.w.  Read Replies (1) of 40688
 
* Bank of Israel Governor Jacob Frenkel on Sunday announced a 0.5 percent
interest rate cut for August on Central Bank sources to commercial banks, to
a nominal rate of 11.5 percent. Interest has stood at 12 percent for three
months. The Central Bank announced that it could cut interest rates because
of the drop in inflationary expectations to about four percent over the next
12 months.

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