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The European Central Bank and Bank of England activated a standing swap line allowing the BoE to offer euros to UK banks weekly. The Eurosystem also stands ready to lend sterling to euro area banks if needed.
The step is a precautionary liquidity measure tied to Brexit uncertainty.
This is a precautionary financial-stability measure with no direct effect on feed commodity supply or demand. It may marginally support sterling and euro liquidity conditions.
ecb.europa.euEuropean Central BankMar 5, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
