Chemical bank lowers prime rate to 19 1/2%

The prime lending rate slid again as a major New York bank lowered its rate to 19 1/2 percent from 20 1/2 percent. The rate reduction by Chemical Bank was the third drop in the key interest rate since last Friday, when most of the nation's banks cut the prime to 20 1/2 percent from the record 21 1/2-percent level. News of the drop sent the Dow Jones indu strial average briefly soaring over 1,000.

About these ads
Sponsored Content by LockerDome

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK