Federal Reserve enlarges Operation Twist program by USD 267 billion

Source: Bloomberg
The Federal Reserve announced on Wednesday it will extend its Operation Twist program to prolong maturities of its assets and pledged intervention in labour market if situation worsens. The central bank will extend the program by the end of 2012 through selling shorter-term assets worth USD 267 billion and purchasing same size longer-term securities in order to cut borrowing costs.
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Thu, 21 Jun 2012 06:17:03 GMT

Merkel refuses national debt purchases as a way to tackle crisis

German Chancellor Merkel denied using direct countries' debt purchases via Eurozone rescue fund as a measure to fight turmoil. Merkel admitted that such a tool is legally possible. However, Merkel considers this measure as purely theoretical and hasn't express any interest in committing to sovereign bill purchases. French Socialist President Hollande in contrast suggests that it would be a reasonable way how to lower surging

Thu, 21 Jun 2012 08:09:03 GMT

Gold declined as easing hopes faded

Gold futures slid in Asian trade on Tuesday as Fed announced it would continue its Operation Twist and did not plan to ease the monetary policy further. COMEX gold for delivery in August traded at 1,605.05 US Dollars per troy ounce on the New York Mercantile Exchange, falling by 0.67%. Meanwhile, COMEX silver for delivery in July traded at 27.945

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