European Central Bank drains €169.7bn in overnight funds from money market; Rising Euro increasing concern for ECB policymakers
Oct 14th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The European Central Bank (ECB) on Tuesday drained €169.7 billion in overnight funds from the Eurozone money market in a signal that there is ample liquidity as banks continue to be cautious in lending to business and households. Meanwhile, the rise of the Euro is an issue of increasing concern for ECB policymakers.