IN BRIEF : Belgium Rolls Back Interest Hike
The central bank lowered Belgium’s most important interest rate today following last week’s rate increases.
The Banque Nationale de Belgique cut the rate on three-month treasury certificates to 7.5% from 7.65%. It also cut the rate for one- and two-month certificates to 7.4% from 7.5%. Last week’s rate increases had been part of a concerted round decided by a number of European central banks.
A central bank official said the stability of the foreign exchange markets and the strength of the Belgian economy and trade balances had allowed the bank to lower the three-month rate.
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