Tuesday, March 18, 2008

There's no TV, radio, or phone there

Wall Street Journal (subs. req'd) --

With U.K. money markets tenser than those on the Continent, the Bank of England yesterday added an extra £5 billion to markets. Today, it auctioned £10 billion in three-month funds against an expanded collateral range.

Bank of England Governor Mervyn King also postponed a planned trip to keep tabs on jittery markets. "He deferred the visit to the west Midlands because he needs to be in London to monitor events," said a Bank of England spokeswoman, noting Mr. King had planned a routine visit with business leaders outside London for yesterday and today.

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