Posted AT 9:27 AM EST on 07/10/08
Central banks expand U.S. dollar pool
Central banks around the world are ignoring chatter about a co-ordinated interest rate cut and, instead, are working together to expand the availability of U.S. dollars to the struggling banking system.
The Bank of Canada is not participating in the action, however, because Canada's money markets do not require an injection of U.S. dollars.
“The Bank of Canada welcomes these initiatives.
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