(BOE) Central Bank Measures

11 March 2008

Since the co-ordinated actions taken in December 2007, the G-10 central banks have continued to work together closely and to consult regularly on liquidity pressures in funding markets. Pressures in some of these markets have recently increased again. We all continue to work together and will take appropriate steps to address those liquidity pressures.

To that end, today the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve and the Swiss National Bank are announcing specific measures.

Bank of England Actions

The Bank has announced a continuation of its expanded 3-month long term repo open market operations against a wider range of high quality collateral. It applies to scheduled operations on 18 March and 15 April which were described in a statement released at 11.00am this morning (see link below).

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