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Libor scandal undermines market confidence

Jul 16 2012 17:53 Sapa

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Washington - The scandal of banks having manipulated the Libor global interest rate benchmark is taking a toll on confidence in the markets, the International Monetary Fund said Monday.

"The most serious consequence of this scandal, which is under investigation, is that it undermines the certainty and the trust that markets have in benchmarks," said Jose Vinals, director of the IMF's Monetary and Capital Markets Department.

imf  |  libor scandal
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