71.   German base rates were already at their lowest level for almost nine years.

72.   He added that the Bundesbank would not raise its base rates until next year and would wait for the German economy to pick up before taking such action.

73.   He said that the market expected a quarter-point increase of US base rates.

74.   In Frankfurt, economists said that they did not expect German base rates to be changed on Thursday at a fortnightly meeting of the central council of the Bundesbank.

75.   In Paris, dealers predicted that the Bank of France would take its lead from the half-point cut in German base rates last week.

76.   Analysts expected the Bank of France to cut its base rates later on Thursday.

77.   Analysts had expected strong figures for consumer spending which would have put pressure on Chancellor of the Exchequer Kenneth Clarke to raise British base rates.

78.   And he added that the market expects the Bank of England to reduce base rate soon, stimulating the economy and making it possible to reduce public debt.

79.   As expected, the Bank maintained its base rate at six percent.

80.   Base rates here currently stand at six percent.