So they dropped lending rates to the floor and pushed home prices to the moon.
The situation was different with short-term bonds, as central banks around the world pushed down overnight lending rates.
The public-sector banks' state guarantees have held down their borrowing costs and hence their lending rates.
We have yet to see prosecutions for manipulation of the Libor inter-bank lending rates.
Overnight interbank lending rates have shot up past 30%, according to BBO's Mr. Dallen.
They can also affect lending rates to the public, for instance with some mortgage deals.
It is unlikely that lending rates or credit policies could be shifted without their input.
Spreads between the Fed's lending rates and the rate banks charge each other remained elevated.
Deutsche has been looking into alleged manipulation of the Libor and Euribor benchmark lending rates.
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Prime lending rates have fallen one percentage point since June, including a half-point cut Nov. 2.
The government continues to set a ceiling on deposit rates and a floor on lending rates.
But like Thailand, the Philippines must be careful not to throttle economic growth with super-high lending rates.
Ultimately, these low costs should let them lower lending rates and expand market share without sacrificing profits.
Although providing relief to companies, slashing lending rates without cutting deposit rates would further dent bank profitability.
He also said no government minister had asked him to "lean on" Barclays over its inter-bank lending rates.
But Mark Durling of Brewin Dolphin said he did not think interbank lending rates would come down significantly any time soon.
The more private lenders raised their lending rates, the more broke Ireland became.
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It has cut the rates twice since--in last April and in January this year--but lending rates are still considered high.
With a Reserve Bank of India policy rate of 6%, and lending rates around 8.5%, credit is extremely cheap.
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It recently launched a criminal investigation, in the wake of the Libor scandal, into the rigging of inter-bank lending rates.
High lending rates between banks, or a drying up of liquidity, marked the infancy of the credit crunch this time last year.
Also, the inflation rate is hovering at around 33% while bank-lending rates are at about 40% in the southern African country.
Last week the central bank also scrapped the ceiling on banks' lending rates, allowing them to charge more to riskier borrowers.
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With lending rates at such lows, why does the Administration believe it is even necessary to reduce the deficit at this point?
Even now, there are lingering traces of mistrust in longer-term interbank lending rates, which still look unduly high compared with overnight lending.
Since deposit rates are, by law, low, and the spread between them and lending rates quite large, the growth has been enormously lucrative.
He added that he backs the Reserve Bank of India's focus on reducing inflation, rather than lowering key lending rates to spur growth.
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If banks were to compete by offering higher deposit and lower lending rates, they would reduce their income and therefore face liquidity risks.
Interbank lending rates have remained stubbornly high, the share price of financial stocks has plunged and the outlook for the world economy has darkened.
Big cash injections by central banks had helped offset the worst effects of this cash hoarding, bringing overnight lending rates down toward policy targets.
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