While it’s late in New York, Dealbreaker points out it’s early in Australia, where the reserve bank has already decided to inject $1.3 billion into the finacnial system. They also wonder, what will the market look like on Monday morning?
The Australian: The Reserve Bank of Australia has pumped cash into the financial system in an apparent move to soothe nervous market jitters.
Global financial markets are awash with risk-aversion as the world’s fourth-largest investment bank, Lehman Brothers, teeters on the brink of collapse.
In its daily open market operations, the central bank injected a net $1.3 billion into the financial system, its largest net injection since August 12.
Analysts said the move was a clear attempt by the bank to smooth out liquidity flows in the market.
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