The Central Bank declined to intervene directly to bring down the cost of interbank lending. (The Daily Star/Hasan Shaaban)
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The interbank interest rate dropped to 4 percent Tuesday from 15 percent a week ago, Bank Audi has said.Interbank rates went haywire over the past two weeks due to the shortage of cash among most Lebanese banks, prompting some of them to borrow from lenders at 80 percent to 120 percent.The Central Bank has refrained from intervening and left it to the commercial banks to borrow freely from each other.Bankers said that the Central Bank intends to expand its incentives next year to lure more deposits.
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