101.   The British base rate is currently at six percent, following three rate cuts since last December.

102.   The Banque Nationale de Paris, the Societe Generale, the Credit Lyonnais and the Credit Commercial de France said that they would reduce their base rates from Tuesday.

103.   The analyst said that the Bank of England would be alone among European central banks in not following the Bundesbank, which cut its base rates on Thursday.

104.   The Bundesbank cut its repo rate Wednesday and investors expect a cut in base rates to follow.

105.   The Bank of Israel has already dropped its base rate by two percent to try to stimulate the economy.

106.   The Banque de France also cut its base rates by a quarter percent Thursday.

107.   The Bundesbank cut its base rates last Thursday.

108.   The figures make a new reduction of British base rate appear more remote.

109.   The franc had also suffered against the mark on Thursday after the Bundesbank announced that it would keep its base rates and repurchase rate unchanged.

110.   The market expected the French and British central banks to cut their base rates on Thursday.