US central bank pumps $41 bln into market

In Hungary

One day after reducing interest rates, the US central bank Thursday pumped another $41 billion into the banking system to help stem the deepening credit crisis in the mortgage markets.

It was the largest one-day infusion since August 10, when the Federal Reserve lent $38 billion to the nation’s banks. Market observers were surprised by the large amount, which they saw as proof of the continuing liquidity crisis in the banking system. The US central bank’s open market operations have authority to intervene whenever it is necessary to broaden or narrow financial liquidity. (m&c.com)

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.

Support the BBJ

Festivals