LONDON — The European Central Bank stepped up efforts to contain the continent's government debt crisis as bank president Jean-Claude Trichet announced it would prolong measures to provide ready cash to banks and steady the financial system.
Markets were initially disappointed Thursday when Trichet did not say the bank would go even further and increase its purchases of government bonds. The euro sagged almost a cent during his news conference.
But it quickly bounced back, trading higher on the day on market chatter that the bank might in fact be quietly buying bonds of financially troubled eurozone countries — despite Trichet's reticence on the issue.
- Fewer breezes led to less wind power... 11
- Prosecutors say Jeremy Johnson could... 8
- Democratic A.G. candidate says Reyes... 3
- FBI says it won't disclose how it... 2
- US economy struggles at start of... 2
- How much did people spend on cars the... 2
- Gov. Herbert met with lobbyists to ask... 2
- US consumer confidence slips in April 1