Article: Central bank moves calm money markets INVESTING

John Parry Reuters
International Herald Tribune
01-23-2008
Central bank moves calm money markets INVESTING
Byline: John Parry Reuters
Edition: 5
Section: FINANCE/BUSINESS

NEW YORK --

Short-term lending markets have shaken off much of the paralysis of the credit crunch after central banks took extraordinary steps to restore order within the heart of the global financial network.

Even so, it may be too soon to declare victory beyond the staid environs of money markets. Analysts agree the pain of bad mortgage investments that started it all will burden banks and the broader economy for years to come.
Plunging interbank lending rates in the first weeks of 2008 suggest that the billions of dollars ...

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