Central banks' move on dollars will improve liquidity, BoE's Carney says

Sunday's joint move by the world's top six central banks to increase access to U.S. dollars will help to improve liquidity and ease strains in global funding markets, Bank of England Governor Mark Carney said.

Earlier, the U.S. Federal Reserve slashed interest rates to near zero, restarted its bond-buying and launched other measures from its crisis-era toolkit to try to help the global economy which has been hit by the coronavirus pandemic.

"Today's coordinated action by major central banks will improve global liquidity by lowering the price and extending the maximum term of U.S. dollar lending operations," Carney said in a joint statement with Andrew Bailey, who succeeds him as BoE Governor on Monday.