Fed & other CBs intervene to ease Europe credit crisis – You knew this was coming, right?

From the FT:

Fed leads co-ordinated central bank move

The US Federal Reserve has slashed the rate it charges other central banks for access to dollars in an effort to counter a deepening credit squeeze in the eurozone that threatens global growth.

Also BI:
MARKETS SURGE AS FED/ECB/BOJ/BOE/SNB/BOC ANNOUNCE COORDINATED INTERVENTION
(Bolding in quote is mine)

All the world’s central banks have just announced a big coordinated intervention to lower swap rates.

It’s not a solution to the euro crisis by any means; it just means that the most acute liquidity problems will be mitigated for now.

The market is loving the news.

http://www.businessinsider.com/fed-ecb-boj-boe-snb-bank-of-canada-announce-coordinated-intervention-2011-11

Y’all knew something like this was coming, right?

Last time this happened was back in mid-Sept.

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One Response to Fed & other CBs intervene to ease Europe credit crisis – You knew this was coming, right?

  1. Pingback: ECB, Fed, BOE, BOJ, & SNB ANNOUNCE COORDINATED LIQUIDITY MEASURES | FMTrading Blog

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