Related
Fed offers no clues on stimulus 25/04/2012 19:06 CET
No change in eurozone interest rates 04/04/2012 18:06 CET
Fed keeps easing option open 16/03/2012 19:18 CET
Iceland’s ex PM: ‘We didn’t know the banks were fishy’ 05/03/2012 19:36 CET
Greece rejects German plan for EU ‘budget control’ 29/01/2012 02:05 CET
The world’s main central banks have joined forces to counter the effects of the eurozone crisis on the world economy.
The banks of the US, eurozone, Japan, Canada, Britain and Switzerland have agreed to lower the price on existing dollar swaps.
The aim is to pump liquidity into the global financial system, and keep funds flowing through markets rocked by Europe’s sovereign debt difficulties.
The unannounced move quickly had a positive and dramatic effect on world markets, driving share prices up by several percentage points.
The banks’ intervention comes after the failure so far of European policymakers to come up with an effective solution to the debt crisis in the common currency bloc.
More about: Banking, Federal Reserve, Financial Crisis, Interest ratesCopyright © 2012 euronews
JavaScript is required in order to view this article’s accompanying video
Top Stories
Haneke scoops Cannes Palme d'Or
Austrian director Michael Haneke has won the Cannes film festival’s top prize. He scooped the Palme d’Or for his film “Love” – the tale of an elderly couple facing the inescapable, yet…
Syrian government blames rebels for Houla massacre
International outrage is mounting over a massacre in Syria that has left more than 100 people…
Mali: Rebel groups agree to creation of Islamic state
Two Rebel groups have agreed to merge and create an independent Islamic state in Northern…
latest economy news
EU-Argentina trade friction increases- Eurozone citizens back common currency
- Athens stock market plunges
- Euro tumbles on German weakness
- UK economy in worse state than feared
- Foreign investors shun Italy and Spain
- IMF tells Britain ‘must try harder’
- Eurozone is biggest threat to growth: OECD
- UK inflation eases
- Troika checks Portugal’s progress
euronews on facebook
