The European Central Bank said yesterday it would pump 75 billion euros ($104 billion) into the euro money markets via an exceptional three-month liquidity tender.
In a move aimed at giving the markets a bit more air, the ECB said it made the sum available at a marginal or lowest rate of 4.35 percent and a weighted average rate of 4.52 percent.
The rates were high compared with the ECB's present main interest rate of 4.0 percent and the sum also exceeded the bank's normal refinancing amount of 50 billion euros.Last Thursday, the bank had already made another three-month injection of liquidity into euro money markets, where rates have risen owing to uncertainty about the impact of the US high-risk home loan crisis on the global economy.
(AFP)