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Credit loosens on expected rate cut

http://money.cnn.com/2008/12/15/markets/bond_market.ap/index...

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.
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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.

--fleg
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