ECB extends bank support as rates are held around the world

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European Central Bank (ECB) president Jean-Claude Trichet on Thursday announced that the ECB will conduct a liquidity-providing supplementary longer-term refinancing operation (LTRO) with a maturity of approximately six months.

The operation will be conducted as a fixed-rate tender procedure with full allotment and the rate in this operation will be fixed at the average rate of the main refinancing operations over the life of the supplementary LTRO.

Additionally, the ECB decided to conduct its m

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