Global effort thaws credit freeze

With two more countries entering the global fight to stem the world's financial crisis, bonds and lending rates continued to fall Monday, signaling the worldwide effort was working to ease the stranglehold on lending.

Three major gauges of the credit market showed a moderate increase in interbank and corporate lending. Banks are charging each other less for loans, and though still at elevated levels, businesses' fears about issuing loans have begun to subside.

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- Posted: 2008-10-20 08:52:37

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