The US Federal Reserve and European Central Bank along with four more of the world’s major central banks today announced a coordinated move to bolster the liquidity of the global financial system.

The European Central Bank has announced today a second interest rate increase since April.

Latest figures from the Central Bank published today show that falls in lending to Irish consumers and businesses gathered pace in May.

Latest figures from the Central Bank show that the rate of household lending continued to decline in April, down 4.6% on the same month last year.

LENDING to households in Ireland continued to fall in February reflecting the impact of a weak economy and falling incomes.

IRELAND’S potential exposure under the Government’s Bank Guarantee Scheme has fallen from a high of €427 billion at the beginning of the year to €346bn by the end of June.

The Governing Council of the ECB has increased the interest rate on the marginal lending facility by 25 basis points to 3.75%, with effect from June 15

INTEREST rates could be cut later next month the governor of the Irish Central Bank John Hurley signalled last night.