Global Market: ECB sees Euro liquidity support boosting global currency role

What happened: ECB Chief Economist Philip Lane said stronger euro liquidity facilities can enhance the currency's global role, with more than 30 central banks expressing interest in the ECB's expanded euro liquidity initiatives. Key numbers: More than 30 central banks expressed interest. Why it matters: The arrangements may boost confidence in the euro and encourage its use in international transactions, and euro area bond markets could benefit from higher official reserve purchases of euro-denominated assets.

ECB Chief Economist Philip Lane said stronger euro liquidity facilities can enhance the currency's global role, with more than 30 central banks expressing interest in the ECB's expanded euro liquidity initiatives.

The arrangements may boost confidence in the euro and encourage its use in international transactions, and euro area bond markets could benefit from higher official reserve purchases of euro-denominated assets.