December 19, 2007

ECB wipes up surplus cash to keep money markets tidy (AFP)

Euro sculpture in front of the European Central Bank (ECB) building in Frankfurt/M., Germany.  After flooding eurozone money markets with cheap cash, the ECB mopped up surplus funds Wednesday, a well-worn practice aimed at reassuring subprime-shy banks while taking care not to fuel inflation.(AFP/DDP/File/Thomas Lohnes)AFP – After flooding eurozone money markets with cheap cash, the ECB mopped up surplus funds Wednesday, a well-worn practice aimed at reassuring subprime-shy banks while taking care not to fuel inflation.

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