ECB to inject more cash, Asia acts

European bank to add $83 billion in liquidity; Bank of Japan, Reserve Bank of Australia also act to calm credit markets.

August 10 2007: 6:41 AM EDT

FRANKFURT (Reuters) -- The European Central Bank mounted a second day of action to calm panicky credit markets Friday, after Asia central banks joined a global campaign by monetary authorities to inject extra cash into banking systems.
The ECB said it would add €61.05 billion ($83.61 billion) in a 3-day tender through the weekend to calm markets, saying it "aims to assure orderly conditions in the euro money market." The Swiss central bank also offered money at below-market rates. .......Read more.....