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FT: Central banks’ aggressive moves stun markets

FT: Central banks’ aggressive moves stun markets
Published: August 9 2007 19:12 | Last updated: August 9 2007 19:12

The European Central Bank stunned markets on Thursday with its aggressive intervention to quash a brewing liquidity crisis in European financial markets.

The New York Fed brought forward by a few minutes its normal daily open market operations, injecting a total of $24bn in overnight and 14 day repos during morning trading.

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