Prime interest rate slips another notch

The prime rate edged downward another notch Monday as Morgan Guaranty Trust, the nation's fifth-largest bank, lowered its key lending rate to 19 percent, from 19 1/2 percent. The reduction put the corporate loan rate at its lowest level since Dec. 10. Analysts said the slow but gradual decline of the prime has resulted from a steep decline in credit dema nd and lower cost of funds to banks.

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