ECB surprises financial markets

Article Abstract:

Industry analysts said that the surprise decision by the European Central Bank to raise its refinancing rate to 4.25% was influenced by the German Bundesbank's closed-door policy. The ECB cited growing inflation and strong economic growth for the half-point hike.

Interest Rates, Deutsche Bundesbank

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Business seeps away from Royal pensions

Article Abstract:

RT Capital Management Inc., the pension management unit of the Royal Bank of Canada, lost another major client due to the firm's stock price manipulation scandal. The University of Western Ontario has withdrawn nearly $1-million from RT Capital.

Canada, Legal issues & crime, Sales, profits & dividends, Pension, health, and welfare funds, Pension Funds & Benefit Plans, Pension Funds, Use of Funds, Royal Bank of Canada, RY, Western Ontario, University of, RT Capital Management Inc.

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More ECB intervention unable to boost euro

Article Abstract:

The Euro's instablity has forced the European Central Bank to intervene. Industry analysts said the bank's aggressive steps may have been prompted by a fear of a rise in currency sales following elections in the United States.

Currency in Circulation, Euro (Currency)

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