21.   These concerns are strongest in Germany, where the Bundesbank policy council convenes on Tuesday.

22.   Tomorrow the Bank of France holds its twice-weekly securities repurchase operation and twice-monthly monetary policy council.

23.   Waning expectations that the Bundesbank will cut its discount rate when its policy council meets Thursday also weighed on the dollar.

24.   France and Germany wanted a special economic policy council for euro nations.

25.   In Paris dealers were waiting for a meeting of the monetary policy council of the Bank of France on Thursday.

26.   In Paris dealers said that the Bank of France would probably not reduce its rates after a meeting of its monetary policy council Thursday and the franc slipped.

27.   A number of analysts expect the Bank of France to reduce interest rates on Thursday at a meeting of its monetary policy council.

28.   But dealers did not expect a meeting of the monetary policy council at the Bank of France later in the day to reduce rates.

29.   But they doubted that a meeting of the monetary policy council of the Bank of France on Thursday would result in a cut in interest rates.

30.   Dealers here said that a meeting of the monetary policy council of the Bank of France might decide to reduce French interest rates.