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Merkel terms rate cut "confidence-building"

Business Materials 8 October 2008 17:31 (UTC +04:00)

German Chancellor Angela Merkel termed the joint interest-rate cut Wednesday a "confidence-building measure."

She spoke in Berlin shortly after the US, European and British central banks and three others had cut 0.5 percentage points from key rates, reported dpa.

She welcomed the move as "helpful."

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