Thursday | December 20, 2007

Business

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Zimbabwe to introduce Z$750,000 banknote

Zimbabwe's central bank on Wednesday announced the introduction of higher denomination of banknotes to help end a cash crunch that has seen people besieging banks. Central bank governor Gideon Gono said in a televised speech that the Z$200,000 bill...

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Fed pumps $20b into the market

The United States Federal Reserve said Wednesday it auctioned US$20 billion in a special operation to thaw credit markets at an interest rate of 4.65 per cent, a higher-than-expected rate that suggested banks were eager to pad their cash reserves....