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Top Dems push for probe of big banks over Libor rate scandal
One of the largest financial scandals in history is playing out right now in London, but most Americans haven’t even heard about it thanks to the story’s near total absence from U.S. television news. But now, a collection of the Democratic Party’s most influential elected officials are pushing for a…
China says time is ripe to liberalize interest rates
China’s central bank chief says conditions are ripe for Beijing to liberalise interest rates, a move analysts say would boost domestic demand as the nation’s exports are hit by overseas turmoil. Beijing has cut the nation’s growth target for 2012 as its export-driven economy slows, and a key policy focus this year will…
Fed slightly upgrades view of U.S. economy
The Federal Reserve slightly upgraded its view of the US economy, saying the jobs market and consumer and business spending had improved since January. But it kept its ultra-low interest rate and its liquidity-boosting bond repurchase operations in place, citing the depressed housing sector and the lack of inflationary pressures. The outcome of the…
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