Old Lady changes tack and steps in with £10bn

The Bank of England said on Thursday that it would lend an extra £10 billion ($20.7 billion) at its benchmark bank rate to allay fears that interbank borrowing costs will shoot up over December.

Mervyn King, the governor of the Bank, said the injection is "similar to measures announced in recent days by the Federal Reserve and the European Central Bank (ECB)." The ECB injected an extra €30 billion ($44.4 billion) into eurozone money markets on Tuesday. The Fed pledged to lend an additional $8

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