Summary
THE Bank of England was thrown on the defensive after refusing to join worldwide efforts by central banks to inject cheap liquidity into panicked markets.
The BoE was stung by criticism from some City players after refusing to intervene with discounted loans following a second day of turmoil on stock exchanges and money markets.See the full content of this document
Extract
Boe Refuses Cash to Calm Market Jitters
The European Central Bank has lent a total of 106 billion at low rates over two days ...
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