Posted on: Friday, June 27, 2003
BUSINESS BRIEFS
3 local banks lower prime rate
Bank of Hawaii, First Hawaiian Bank and American Savings Bank yesterday lowered their prime rate, or base lending rate, by a quarter point to 4 percent. On Wednesday, the Federal Reserve reduced the target for the federal funds rate by a quarter-point to a 45-year low of 1 percent.
PUC may relax wireless rules
The state Public Utilities Commission said yesterday that it will consider loosening regulations on wireless telecommunications carriers. The PUC's review of the state laws governing wireless companies comes after the industry lobbied the Legislature earlier this year to loosen and streamline regulations.
