31.   The reduction was also expected following recent assurances by Human Resources Minister Datuk Lim Ah Lek who said employers will be charged less to insure their foreign workers.

32.   The reductions had been expected.

33.   Analysts said the market expects a reduction of British interest rates before the end of the year.

34.   And it was precisely that which persuaded most ECB watchers to expect further reduction in euro-zone borrowing costs at some point this year.

35.   And they continue to expect a reduction of British interest rates before the end of the year, a fact that weighs on sterling, analysts note.

36.   Modest British economic growth has led operators to expect a reduction of UK interest rates before the end of the year.

37.   Sterling generally gained ground, and the market expects a reduction of British interest rates before the end of the year, the analyst said.

38.   The companies noted that because their businesses are complementary, they do not expect staff reductions as a result of the deal.

39.   The cut surprised dealers who had expected a reduction since December but not on Tuesday.

40.   The government and opposition parties had been urging the central bank to cut the rate and on financial markets the reduction had been expected.