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The Brazilian overnight loan market between banks is shrinking as the biggest lenders have pulled back, affecting the rate tied to $865 billion of securities and mutual funds, said two people with direct knowledge of the matter.
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Brazil’s President Dilma Rousseff has implemented a series of measures since taking office to boost domestic demand and protect industry from imports.
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Brazil’s President Dilma Rousseff has implemented a series of measures since taking office to boost domestic demand and protect industry from imports.
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Cyprus is on the verge of an unprecedented financial experiment: imposing controls on money transfers in an economy that doesn’t have its own currency.
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Cypriot President Nicos Anastasiades vowed to keep his country in the euro as Cypriots adapted to a second day of restrictions on their use of the common currency to prevent a financial collapse.
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Cyprus’s banks opened for the first time in almost two weeks, with new rules curbing access to cash preventing an initial panic to withdraw deposits.
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Cyprus averted panic withdrawals as banks opened for the first time in almost two weeks, with government controls on access to cash leading to orderly lines rather than runs on deposits.
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Cyprus’s banks will open for six hours tomorrow with capital restrictions in place after staying shut for almost two weeks as the island nation faced financial collapse.
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Brazil’s President Dilma Rousseff has implemented a series of measures since taking office to boost domestic demand and protect industry from imports.
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European Central Bank President Mario Draghi comments comments on inflation, the economic outlook for the euro-area, exchanges rates, Italy’s Banca Monte dei Paschi di Siena SpA and the region’s sovereign debt crisis.