Old Lady adds an extra £5bn

The Bank of England injected £5 billion ($10 billion) into the money markets on Monday 17 March after overnight interbank rates shot up on the back of Bear Stearns's collapse.

The Bank said the move, its first injection of emergency liquidity since September 2007, "is being taken in response to conditions in the short-term money markets this morning."

"The Bank will take actions to ensure that the overnight rate is close to bank rate," the Bank added. "Along with other central banks, the Bank