EUR being the big loser, Euro ECB and China PBoC boost growth by cutting borrowing costs, but Bank of England injected extra liquidity

There is an opposite act between ECB and Bank of England, European Central banks take action over growth, Central banks in the eurozone and China took action to boost growth by cutting borrowing costs, while the Bank of England injected extra liquidity, Central banks miss another opening, Moves by the ECB and BoE fall short of the real credit boost their economies need. Monetary policy in Europe must do more to boost credit and macro economics growth

Respons the ECB act, Euro single currency being the big loser after central banks intervene, Interest rate reductions and emergency bond buying by ECB and two others see the single currency tumble against all its big rivals

Meanwhile latest update from Greek debt crisis, Greece drops demand to ease bailout terms
Government drops plan to seek softer terms for second bailout after warnings it would be rejected by international lender, of course because there is no more money for Greek 

By the way, Weidmann warns Merkel over weakening, Germany biggest banks, Bundesbank president tells the German chancellor that the bloc is mutualising risks and weakening agreed rules, criticising last week’s summit actions

From Rome Italy we reporting, Draghi running out of wriggle room, European Central Bank council unanimous on measures which leave quarter-point reduction as perhaps last rate cut before moving into more unconventional territory