Bank of England intervens to stabilise markets

London: The Bank of England pumped an extra 20 billion pounds ($36 billion) into money markets, following a similar move by the European Central Bank (ECB). The amount injected by the Bank of England is four times the sum of Monday's intervention, confirming the continuing pressures on markets from the Lehman Brother's collapse. The Bank of England said the action was being taken "in response to conditions in the short-term money markets this morning". - DPA