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WORLD WATCH

March 02, 1994|From Times Staff and Wire Reports

Germany Lets Key Lending Rate Decline: Germany's Bundesbank let fall a key money market interest rate it had held steady since December. Europe's most influential central bank said its securities-repurchase interest rate, which sets the tone for other short-term money market rates, fell to a minimum of 5.97%--below 6% for the first time in five years. Analysts said that more cuts in the rate are likely to follow in coming weeks to pave the way to a further reduction of the discount rate--now 5.25%--sometime in the second quarter.

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