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June 25, 2008 Archives
This afternoon, the Fed announced that it was leaving interest rates unchanged for the first time since last summer. The decision followed seven straight rate cuts that lowered the fed funds rate to 2 percent from 5.25 percent back in September 2007, as the central bank worked to keep a troubled U.S. economy afloat.
Want proof of just how fast that Chinese economy is growing? Try this: The total number of credit cards in China nearly doubled in the past year, according to the nation's central bank.
In March 2007, amid fanfare and praise from usual critics, Citi dropped two unpopular credit card practices -- universal default and "any time, any reason" rate hikes. A news report says they're considering bringing them back
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