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To: Lee who wrote (76282)	11/3/1998 9:27:00 AM
From: Mohan Marette	Respond to of 176387

Interest rate cut- Portugal to follow today?! May be. Lee: Looks that way but Germany and France succumb to political pressure to cut the rates any further as theirs is already somewhere around 3.3% I think,however the following EU members are likely,Portugal as soon as today. ====================== Exceprts from Bloomberg. ".....Still to come are expected rate cuts from Ireland, Italy and Portugal, where borrowing costs are still as much as 1.7 percentage points greater than the German-French 3.30 percent benchmark. All of those countries have cut rates during the past month to move toward a single interest rate. The Bank of Portugal is expected to cut its benchmark rate later today from 4.0 percent. The Bank of England is expected to cut interest rates for the U.K., which isn't yet adopting the euro, on Thursday...........