World’s Central Banks Signal End to Policy ‘Largesse’

Bloomberg reports:

The world’s biggest central banks are starting to unwind emergency measures introduced earlier this year to stave off a second Great Depression.

The euro rose after European Central Bank President Jean- Claude Trichet yesterday said his bank will withdraw some liquidity operations, and the pound climbed after the Bank of England slowed the pace of bond purchases. A day earlier, the Federal Reserve outlined the circumstances in which it would be prepared to raise interest rates.