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Subject:  The worst is over Date:  12/15/2008  4:56 PM
Author:  fleg9bo Number:  433462 of 888931

Credit loosens on expected rate cut

The cost of three-month dollar loans between banks fell further Monday ahead of an expected interest rate cut from the U.S. Federal Reserve.

The interbank lending rate on three-month loans in dollars - known as the London Interbank Offered Rate, or Libor - fell 0.05 percentage points to just over 1.87%, according to the British Bankers' Association.

In a related story, the coming cap-and-trade scheme is expected to plunge the US into a depression, no matter what the Fed does.

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