ECB pulls out $89 bln

MNB

The European Central Bank withdrew €65 billion ($88.7 billion) from the eurozone money market yesterday in its weekly refinancing operation in a bid to soak up excess liquidity.

The European Central Bank for the 13-country eurozone put €210 billion ($285 billion) at the disposal of banks, €65 billion less than one week ago. The ECB pumped €275 billion into the market in the previous refinancing operation to alleviate a credit crunch prompted by a crisis in the US home loan market. Earlier it withdrew €35 billion from the supply in its weekly refinancing operation. It said that money markets were returning to normal following recent turbulence, signaling a gradual end of the credit squeeze. (gulf-daily-news.com)

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

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.