Today’s ECB movement dominated markets’ attention in Europe. Within refinancing program LTRO (Long Term Repo Operation) European Central Bank lent EUR530 billion in a 3-year loans.
Analysts estimated the amount for about 470 billion euro.
The program is suppose to restore liquidity and confidence among European banks.
ECB has given a chance to 800 commercial banks among Euro zone to borrow money on a low (benchmark 1.00%) interest rate.
It is a second action taken by European Central Bank after in December 2011 523 banks received EUR489.2 billion.
After ECB decision Euro currency was traded lower against most rivals. EUR/USD hit 1.3430.
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