The European Central Bank early Friday said it is ready to act after a landmark decision by the U.K. to quit the European Union–a decision that threatens to unsettle the trade bloc. In a Friday statement, the ECB said it is “closely monitoring financial markets.” The so-called Brexit vote, or British exit from the EU, has sent European stocks spiraling lower and pushed investors into assets perceived as safe. The result of the referendum has stoked anxiety about the future of the EU, which has enacted a raft of stimulus measures in an attempt to boost stubbornly low inflation in the eurozone. Britain’s vote to reject EU membership is seen as possibly intensifying problems in the region. “Following the outcome of the UK referendum, [the ECB] is closely monitoring financial markets and is in close contact with other central banks,” the statement said. “The ECB stands ready to provide additional liquidity, if needed, in euro and foreign currencies.”
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From:: Stock Market News