Australian Reserve Bank Pumping $1.3 Billion Into Market On Fears Of Meltdown

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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