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Britain eases up on interest rate

By WITH ANALYSIS FROM MONITOR CORRESPONDENTS AROUND THE WORLD, EDITED BY RANDY SHIPP / November 25, 1980



London

Britain announced a package of measures to get its economic strategy back on course, cutting the key minimum lending rate from 16 to 14 percent. The cut in the near-record interest rate -- equivalent to the discount rate under which the Federal Reserve Board lends money to its member banks in the United State -- followed mounting pressure from industrialists, who said it was crippling industry and aggravating recession.

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