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Federal Reserve’s interest rate meeting earlier this month failed to provide a clue as to when the central bank might move to cut interest rates. Markets moved higher last week on hopes the Fed will cut its funds rate on or before its next rate meeting Sept. The slide followed a comment from Bank of Canada deputy governor Pierre Duguay Monday that economic life has changed after the recent upheaval in global credit markets, which may cause it to reconsider raising interest rates next week. State Street says its exposure accounts for 17 per cent of all assets, the highest exposure to conduits of any European or American bank and its shares dropped $2. read more

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