FRANKFURT: The European Central Bank mounted a second day of action to calm panicky credit markets yesterday, after Asian central banks joined a global campaign by monetary authorities to inject extra cash into banking systems.
The ECB said it would add money through the weekend to calm markets, saying it “aims to assure orderly conditions in the euro money market”. The Swiss central bank also offered money at below-market rates.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!