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PARIS, Dec 13: The world’s major central banks face the delicate balancing act of trying to ease the global credit crunch sparked by the US subprime home loan crisis while trying to rein in rising inflation.
In a move analysts described as the most concerted effort since the September 11, 2001 terror attacks, the US Federal Reserve and four other central banks said on Thursday they would make tens of billions of dollars available to cash-starved international banks.—AFP
