shadow

Bankers Trust drops prime rate to 15%

Bankers Trust Company dropped its prime rate a quarter point Wednesday, joining Citibank at the 15 percent level. "The lowering of the prime rate reflects reductions in our own cost of funds and mounting evidence of slowing in the US economy," the Bankers Trust chairman, Alfred Brittain III, said. Citibank's prime rate has been 15 percent since mid-December.

of 5 stories this month > Get unlimited stories
You've read 5 of 5 free stories

Only $1 for your first month.

Get unlimited Monitor journalism.