Central banks cut dollar offers in sign of market confidence

The European Central Bank (ECB), the Bank of England (BoE), the Bank of Japan and the Swiss National Bank (SNB) said they’ll cut the frequency of their seven-day dollar operations from daily to three times a week starting July 1. Operations with 84-day maturity will continue to be offered weekly, they said.

COPENHAGEN: Major central banks in Europe and Asia are scaling back their offers of dollars to lenders in a sign of confidence that the pandemic’s grip on markets is loosening, even if the economic pain persists.

The European Central Bank (ECB), the Bank of England (BoE), the Bank of Japan and the Swiss National Bank (SNB) said they’ll cut the frequency of their seven-day dollar operations from daily to three times a week starting July 1. Operations with 84-day maturity will continue to be offered weekly, they said.