Fed, ECB, Central Banks Announce Coordinated Actions To Boost Liquidity: Stocks To the Moon (But Think Why This Was Done)

The central banks are saying "we are ready to intervene" shall it get so bad. They are providing cheap U.S. dollars. Fed, ECB, Central Banks of Canada, England, Japan, and Switzerland announced joint action to boost liquidity, addressing pressures in global money markets by lowering pricing on liquidity swap arrangements by 50 basis points.

China lowers reserve requirements, central banks announce coordinated actions to enhance capacity to provide liquidity to global financial system: stocks to the moon. The problem is why this was done, was it because liquidity had dried up and banks were on the brink? Borrowing costs have been lowered by these central banks by 0.50%, to what rate now? "The new interest rate has been reduced to the dollar overnight index swap rate plus 50 basis points, or half a percentage point, from 100 basis points, the Fed said in a statement in Washington"
 
How much more can they be lowered, another 0.50% to... zero! or else they start paying the banks to borrow money.