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Posted AT 6:09 PM EST on 30/09/08

Bank of Canada injects cash to thaw frozen credit

HEATHER SCOFFIELD

Globe and Mail Update

OTTAWA — The Bank of Canada is injecting an additional $4-billion into short-term money markets as a means to thaw the flow of credit, which has essentially frozen around the world. The intervention comes in the form of 28-day money which will be auctioned on Wednesday “in light of increased pressures in term lending markets,” the Bank of Canada said in a statement.

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