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Text size [+][-]  Saturday November 21 2009GLOBAL EDITION

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18 Dec 2008 20:38

The cut that guts



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The average seven-day interest rate on taxable money market funds is 0.88% according to Imoneynet, a research group that covers the sector.

The Fed’s move to near-zero interest rates will make it hard for money funds to earn enough to cover expenses. And investors may switch to higher-yielding alternatives such as bank deposits. Japan’s experience suggests this could cause problems for corporate borrowers.

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