Business Drive

Central banks have moved globally to keep credit flowing after an unsettled period in the US banking sector and the Credit Suisse merger. Six central banks, including the Bank of England, announced they would boost the flow of US dollars through the global financial system. The Bank of England, Bank of Japan, Bank of Canada, the European Central Bank, the US Federal Reserve and the Swiss National Bank launched the coordinated action to enhance the provision of liquidity. The announcement says it served as an important backstop to ease strains in global funding markets" and to lessen the impact on the supply of credit to households and businesses.