BoE pledges £15bn to short-term markets

The Bank of England has pledged £15bn to adress liquidity issues in the short-term money markets.

The injections will come at a rate of £5bn each week until April 9 and will be lent at a rate of 5.35% on three-day offer.

The BoE made £5bn of liquidity this Monday, to be repaid today, in and effort to stave off further market insecurity as a result of diminished confidence and hesitance of banks to lend among themselves.