http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/12/12/bcnconway212.xml
Bank of England and Fed act to ease crisis
By Edmund Conway, Economics Editor
Last Updated: 5:37pm GMT 12/12/2007
The Bank of England this afternoon announced it is clubbing together with its fellow central banks to conduct a major rescue operation for the world's stricken money markets.
In an unprecedented move, the Bank said it and the Federal Reserve, the Bank of Canada, the European Central Bank and the Swiss National Bank were taking measures to "address elevated pressures in short-term funding markets."
Bank of England and Fed act to ease crisis
By Edmund Conway, Economics Editor
Last Updated: 5:37pm GMT 12/12/2007
The Bank of England this afternoon announced it is clubbing together with its fellow central banks to conduct a major rescue operation for the world's stricken money markets.
In an unprecedented move, the Bank said it and the Federal Reserve, the Bank of Canada, the European Central Bank and the Swiss National Bank were taking measures to "address elevated pressures in short-term funding markets."
