LONDON, ENGLAND - THE Bank of England on Tuesday injected 20 billion pounds (S$51.3 billion) into money markets, four times the amount it had offered on Monday after the collapse of Lehman Brothers.

The European Central Bank meanwhile pumped 70 billion euros (S$142.6 billion) into markets on Tuesday in the second operation of its kind in two days.

Since Monday, the US Federal Reserve and Bank of Japan have also injected billions of dollars to boost liquidity as commercial banks hold back from lending to one another amid a global financial meltdown.

The Bank of England said on Tuesday that its latest short-term offer of cash was made available at the BoE's base, or bank, rate, which stands at 5.00 per cent. Any money loaned would have to be repaid by Thursday, it added in a statement.

'This action is being taken in response to conditions in the short-term money markets,' the Bank of England said.

'Along with other central banks the Bank of England is closely monitoring market conditions,' it added.