Iceland

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Iceland cuts key interest rate 1 point to 10 pct

INO News - Thu Dec 10, 4:25 am ET

(AP:REYKJAVIK, Iceland) Iceland's central bank on Thursday cut its key lending rate a full point to 10 percent. The seven-day collateral lending rate had peaked at 18 percent in October last year as Iceland's banking system collapsed under the strain of a global credit crisis.

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