CITIBANK LOWERS AUSTRALIAN PRIME RATE TO 16 PCT
  Citibank Ltd said it would lower its
  Australian prime rate to 16 pct from 16.5, effective tomorrow.
      The new rate, if unmatched by other banks, will be the
  lowest among Australian trading banks. Other primes range from
  16.25 to 17.5 pct.
      Australian prime rates have now retreated from a recent
  peak of 19 pct in October in line with declining money market
  levels. Citibank said its reduction reflected the decline.