China should cut interest rates: government researcher

(Reuters) - China ought to loosen monetary policy further through "modest" cuts in bank lending rates and reserve requirements by next year to spur economic growth, a researcher at a government think-tank said.

9 more banks under scrutiny in Libor investigation

NEW YORK (CNNMoney) -- A state investigation into whether some of the world's biggest banks manipulated key global interest rates has widened to 16 institutions, according to a source familiar with the matter.