Washington was disappointed by Bonn’s decision.

The White House, disappointed by West Germany’s decision not to cut interest rates, again urged other nations to ease their credit policies. Deputy press secretary Larry Speakes told reporters, “We had hoped that other countries would take steps in concert with the United States to reduce interest rates.” U.S. officials had been pressing West Germany to match last week’s half-percentage-point reduction in the Federal Reserve’s discount rate to 5.5%, a nine-year low. But the Bundesbank, West Germany’s central bank, left credit policies unchanged at a meeting of policy-makers.