Prime rate slips again, to 11 1/2

The prime rate was cut to 11 1/2 percent from 12 percent Monday by Morgan Guaranty Trust Company, the nation's No. 5 bank. Manufacturers Bank of Los Angeles followed the move.Many observers believe the prime rates may fall to 10 percent in the near future.

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.