Source: ForexYard
Thursday afternoon the ECB enacted multiple measures to help alleviate the financial crisis currently hitting the EU. First, the ECB plans to once again buy covered bank bonds and would implement measures for refinancing slated to last a year.
This is not the first time the ECB has implemented such measures, the first time being in 2009. Those previous efforts had mixed results in staving off a complete meltdown following the U.S. financial crisis.
While investor confidence remained shaky following the announcement, many hope this will successfully restore liquidity among EU banks.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.