* Banks drag markets down on liquidity fears* BNP Paribas won`t bid for SocGen* Fuel costs hit airlines, stocks
For the average consumer the Fed`s interest rate cut means lower credit card rates, car payments and favorable terms on home equity loans. But housing is still a weak spot. Deirdre Bolton reports.
(Chicago) CBS 2`s Mai Martinez interviews an expert on how the Federal Reserve`s interest rate cut will impact average Chicagoans.
Prime rate
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Prime rate is a term applied in many countries to a reference interest rate used by banks. The term originally indicated the rate at which banks lent to their most favored customers, though this is no longer always the case. Some variable interest rates may be expressed as a percentage above or below prime rate.
