Emergency Aid

The world's leading central banks, including the Bank of England, have joined forces and injected approximately £100BN into the world's financial system.

The action is US funded, whereby the US Federal Reserve is lending the Bank of England, the European Central Bank (ECB), the Swiss National Bank and the central banks of Canada and Japan the money to pump into their financial systems.

The question is, given that the US government allowed Lehman Brothers to go to the wall on Monday, will this restore confidence into the system?

Posted in: bank of england,ECB,Federal Reserve,japan,michael woodford,recession