One of the most serious threats to the nation's growing business recovery has been the possibility of a continuing rise in interest rates that would discourage borrowing by businessmen and consumers, weaken the stock market and abort a barely begun revival of the housing industry. Last week, however, a consensus formed among experts that a three-month upswing in credit costs is ending, and that interest rates are expected to hold steady, or even inch down. For example, James J. O'Leary, vice chairman of New York's United States Trust Co., now predicts that the bank prime rate on loans to...
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