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From Times Staff and Wire Reports
Bundesbank Cuts Securities Repurchase Rate: The German central bank made another small cut in a key money market interest rate Wednesday, but traders said the easing offers no clue as to whether it might lower official rates today. The Bundesbank allowed the securities repurchase rate to fall by 3 basis points to 4.88%. The move came one day before the bank’s policy-setting council is to meet for the last time before its summer recess, which lasts until Aug. 18.
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