BUSINESS
November 2, 1991 | From Associated Press
Southwest Bank said Friday that it will lower its prime lending rate, but analysts don't expect other banks to follow suit until the Federal Reserve cuts interest rates again. Southwest said it will cut its prime rate a quarter percentage point to 7.75%, effective Monday. It becomes the second regional bank to reduce the key rate from the 8% level that has prevailed since Sept. 13. First Fidelity Bancorporation of Lawrenceville, N.J., cut its prime rate Wednesday to 7.75%.