This is to help credit flowing households and business
The U.S. Federal Reserve and several other major central banks have announced a co-ordinated effort to boost the flow of U.S. Dollars.
The aim is to keep credit flowing to households and businesses, and improve conditions that are tightening due to rising interest rates.
Market turmoil over the past fortnight has made it harder for investors to borrow money.
Two U.S. banks have failed, while Credit Suisse has been rescued by UBS.
“The Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, the Federal Reserve, and the Swiss National Bank are today announcing a coordinated action to enhance the provision of liquidity,” the central banks released in a joint statement.
