ECB, Fed, SNB to offer further dollar liquidity

The European Central Bank has decided with the U.S. Federal Reserve to offer further dollar liquidity this month to help normalise conditions on money markets, ECB President Jean-Claude Trichet said on Thursday.

Trichet told a news conference that the moves were "to contribute to satisfying the exceptional need for further normalisation of conditions".

The ECB, Fed and a number of other leading central banks said last month they would inject extra funds into the money market to bring down interbank lending rates and pre-empt the threat of a credit market squeeze over the turn of the year.

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- Posted: 2008-01-10 10:16:00

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