BANK OF FRANCE TO BUY FIRST CATEGORY PAPER TODAY

  The Bank of France is to inject liquidity
  against first category paper at a tender this afternoon, a Bank
  spokesman said.
      Money market sources were divided as to whether they
  thought the Bank of France would use the occasion to cut its
  intervention rate, which has stood at 7 3/4 pct since it was
  cut from eight pct on March 9.
      Some thought a rate cut unlikely given foreign exchange
  turbulence and the U.S. Prime rate rise to 7 3/4 pct, while
  others still counted on a 1/4 point cut by the Bank of France.
  

