BANK OF FRANCE LAUNCHES MONEY MARKET TENDER The Bank of France said it set a money market intervention tender today to inject funds to the market against first category paper. Money market sources said the surprise announcement might herald a quarter percentage point cut in the central bank intervention rate from the 7-3/4 pct level set March 10, but they added such a cut was relatively unlikely. The intervention rate was cut from eight pct on March 10 after being raised from 7-1/4 pct on January 2 to head off speculative pressure against the franc. Dealers said market fundamentals could justify a further easing, but a combination of technical factors and renewed currency uncertainties surrounding the dollar had put short-term upside pressure on interest rates in recent sessions. Call money rose yesterday to 7-7/8 eight pct from 7-3/4 7/8 pct. Today it was first indicated at 8-1/8 1/4 before easing on news of the tender to 7-13/16 7/8 pct. Technical factors making for a slight shortage of liquidity in the market included the settlement yesterday of the latest monthly treasury tap stock tender, on March 5, market sources said.