Central banks act as economy hits 'dangerous new phase' - AAD Consumer Forum

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5corpio started a blog post Central banks act as economy hits 'dangerous new phase'
15 September 2011, 16:27

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Central banks act as economy hits 'dangerous new phase'

Central banks act as economy hits 'dangerous new phase'

Originally posted by 5corpio

Five central banks have moved to boost the liquidity of commercial lenders, as the boss of the International Monetary Fund warns of a "dangerous" new economic phase. The central banks are to provide the commercial banks with three additional tranches of dollar loans to help ease funding pressures. Banking stocks rose sharply, with BNP Paribas up as much as 22%.

IMF managing director Christine Lagarde said "bold action" was needed. Speaking in Washington, she said: "Uncertainty hovers over sovereigns across the advanced economies, banks in....Read more on this story----> BBC News - Central banks act as economy hits
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