Bank of England

Federal Reserve statements:

  • daily operations will commence on Monday and will continue at least through the end of April
  • to improve the swap lines’ effectiveness in providing US dollar funding, the central banks currently offering US dollar operations have agreed to increase the frequency of 7-day maturity operations from weekly to daily


Enhancing swap lines like this is a sure sign that the stability concerns are heightened. Opening the taps is a step back for the tightening cycle.

Bank of England art