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ECB ready to boost liquidity ‘if necessary’
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The European Central Bank is ready to boost liquidity in the credit market by issuing another long-term loan if necessary, according to ECB governing council member Erkki Liikanen.
The ECB carried out long-term refinancing operations to ease funding strains at the height of the eurozone debt crisis.
“I am ready to act, if necessary,” Liikanen told Italy’s Corriere della Sera newspaper.
Markets have already begun to speculate on the chances of another of the operations which saw the ECB flood banks with more than 1 trillion euros (US$1.35 trillion) in cheap three-year loans in 2011 and 2012.
The ECB council has said it is willing to take further steps to keep market interest rates low given continuing concern over European growth.
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