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Central Banks Pumping In Liquidity Not Seen Since 911?

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From Times OnlineAugust 9, 2007

Central banks take emergency credit crunch action

Fallout from the US sub-prime market forced the ECB and Fed to inject more than €100bn into money markets today. Shares in London and on Wall St

The European Central Bank was forced today to wade into the eurozone’s money markets and inject €94.8 billion of funds to stabilise overnight interest rates after a new bout of credit jitters saw these spike upwards.

In a highly unusual move, the ECB stepped in to offer banks immediate and unlimited access to short-term cash at its main 4 per cent lending rate after overnight money market interest rates suddenly leapt to 4.7 per cent, their highest since October 2001, in the turbulent aftermath of September 11 terrorist attacks on the US.

http://business.timesonline.co.uk/tol/busi...icle2229381.ece

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From Times OnlineAugust 9, 2007

Central banks take emergency credit crunch action

Fallout from the US sub-prime market forced the ECB and Fed to inject more than €100bn into money markets today. Shares in London and on Wall St

The European Central Bank was forced today to wade into the eurozone’s money markets and inject €94.8 billion of funds to stabilise overnight interest rates after a new bout of credit jitters saw these spike upwards.

In a highly unusual move, the ECB stepped in to offer banks immediate and unlimited access to short-term cash at its main 4 per cent lending rate after overnight money market interest rates suddenly leapt to 4.7 per cent, their highest since October 2001, in the turbulent aftermath of September 11 terrorist attacks on the US.

http://business.timesonline.co.uk/tol/busi...icle2229381.ece

Exactly as expected.

The worst time in history to be holding long term debt.

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Guest Charlie The Tramp
Exactly as expected.

The worst time in history to be holding long term debt.

Especially if you are struggling to make the repayments.

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Especially if you are struggling to make the repayments.

Doesn't matter.

Even if you are easily making them, it's going to become far more difficult to repay the lot, if it's more than a 5-6 year term.

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