Most experts expect other banks to follow Chemical's lead soon.
Some analysts and bank officials said they expect other banks to follow suit eventually.
Other banks followed suit at the end of the month.
In effect the banks followed the flag of the Empire.
No one knows how many other banks will follow Citicorp's lead.
Other major banks did not follow, but some analysts predicted that they would do so soon.
The major banks got the message and quickly followed with a cut from 9 to 8 1/2 percent in the prime rate.
Major banks followed this move with a half point increase in the prime rate, to 7.25 percent.
Other leading banks did not follow but several analysts predicted they would do so soon.
Within a few years, many Indonesian banks had followed suit.
