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Posted AT 12:34 PM EST on 19/09/08

Credit crunch shows signs of easing

KEVIN CARMICHAEL

Globe and Mail Update

OTTAWA — The Bank of Canada's latest liquidity injection into money markets suggests the strains are less severe now than earlier in the year-long credit crunch. The central bank auctioned a total of $2-billion in emergency 28-day loans at an average yield of 3.06 per cent Friday. That's lower than the rates charged at similar auctions in the spring, suggesting Canadian lenders aren't as desperate now for the money as they were then.

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