Share this story
Close X
Switch to Desktop Site

Interest rates slip in New York, Chicago

Citibank, as expected, lowered its prime rate to 18 percent from 18 1/2 percent Tuesday on the heels of a sharp drop in the money supply and a lower cost of funds. First National Bank of Chicago, ranked ninth in size, immediately followed Citibank, the nation's second-largest bank, to the lower rate. The 18 percent rate is expected to become industrywide this week.

Follow Stories Like This
Get the Monitor stories you care about delivered to your inbox.