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Investment Update On Co-Ordinated Action From The Central Banks(09/12/2011)
Last week, the US Federal Reserve, European Central Bank, Bank of Japan, Bank of England, Bank of Canada and Swiss National Bank announced that they would cut the rate charged to other central banks for access to US dollars, from 100 basis points over the base rate to just 50 basis points. A reciprocal agreement has been set up for a similar arrangement with regard to the domestic currencies of the other central banks. A joint statement from ... [more]
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