BoE renews swap deals with other central banks
LONDON (Reuters) - The Bank of England said on Thursday that it had renewed currency swap deals with the U.S. Federal Reserve, European Central Bank, Swiss National Bank and Bank of Canada.
The swap deals were first negotiated to ease money market tensions after the financial crisis, and have now been extended by another year until February 2014.
The BoE added it would continue its operations to provide 7-day and 84-day dollar finance to British banks until further notice. The operations generally see very low demand.
- Tweet this
- Share this
- Digg this
DAVOS, Switzerland - Central banks have done their best to rescue the world economy by printing money and politicians must now act fast to enact structural reforms and pro-investment policies to boost growth, central bankers said on Saturday.