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Posted AT 10:38 AM EST on 17/03/08

Central banks scramble to stem the bleeding

HEATHER SCOFFIELD

Globe and Mail Update

OTTAWA — The global credit crunch has now become a full-blown and rapidly deepening financial crisis that central banks are scrambling to contain, analysts say. With the U.S. Federal Reserve taking more extraordinary measures over the weekend to mitigate the crisis and set financial institutions on a more stable footing, markets are on edge, with a wary eye on the U.S. dollar, financial stocks, and credit conditions around the world.

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