Belgian bank raises rate to aid troubled economy

March 26, 1981

The National Bank raised its prime lending rate from 12 to 13 percent to support the Belgian franc, which has been under pressure because of the country's severe economic problems. The Belgian franc has been the weakest member of the European Monetary System since last Sunday's devaluation of the Italian lira. The system prescribes limits for the fluctua tions of members' currencies.