Will central banks inflate the money supply to try to solve the present global economic crisis?
*Financial Times, by Ralph Atkins, September 6, 2007
“The European Central Bank on Thursday injected €42.2bn into euro money markets in its latest emergency liquidity-boosting operation that came hours before the bank’s governing council kept eurozone interest rates on hold at 4 per cent.
The operation, making extra cash available for one day, followed a surge in overnight interest rates this week that has set back the ECB’s hopes that conditions in money markets were normalising.
The ECB launched emergency liquidity boosting operations on August 9, when it injected an unprecedented €94.8bn.”
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