The biggest event happened yesterday was the joint action by central banks to provide liquidity to Eurozone’s banking system through the end of the year. The ECB announced that it would, in coordination with the ECB, the BOE, the BOJ and the SNB, to conduct 3-month USD liquidity operations for 3 times through the year. In addition to the 7-day USD facility announced on May 10, 2010, the new operation aims to ensure sufficient liquidity in banks.
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Risk Appetite Improves as Central Banks Coordinate to Inject Liquidity to Eurozone’s Banking System
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