Central banks' liquidity injection boosts global markets

Today's pledge by five central banks, including the Federal Reserve and the Bank of England, to raise the liquidity of commercial banks has boosted markets worldwide.

Central banks will provide commercial lenders with three additional tranches of dollar loans to help ease funding pressures, the BBC reports. US markets opened higher today as the cash injection combined with positive noises from Europe, overshadowed bleaker headlines, such as a UBS rogue trader's arrest for causing $2bn in losses. The Dow Jones had gained 0.72% to reach 11,327 just before London closed, with the Nasdaq edging up 0.34% to reach 2,581. Signs European policymakers are making progress towards tackling the eurozone crisis boosted London and Europe this morning, as the ...