The Canadian province of Ontario yesterday began launching a $2 billion global bond deal as syndicate officials scurried to take full advantage of the decision by Germany's central bank to cut its key interest rates, syndicate officials said.

The Bundesbank's decision on Sunday to ease Germany's main lending rates, the Lombard Rate and the Discount Rate, forced the issue's joint lead-manager team of Goldman Sachs & Co. and Merrill Lynch & Co. to begin marketing the deal almost a day ahead of schedule. Syndicate officials attempted to take advantage of the positive effects the rate decision will have on the U.S. dollar.

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