The central bank has agreed to reduce the pricing of 50 basis points in the existing temporary dollar liquidity swap arrangements

readers will all the news today, the world's central banks to take "concerted action" was not surprised. Coordinated action, of course, a euphemism for printing, the press is a good way to spike gold £ 1750 for $ 1110.
24-hour gold pounds:
24 hours gold dollars:
You can see from the above chart, the trend line in 2011 is still good.
So, what is "concerted action"? Release from the Board of Education:
Bank of Canada, Bank of England, Bank of Japan, the European Central Bank, the Federal Reserve and Swiss National Bank announced today that concerted action to improve their ability to provide liquidity to the global financial system support. These actions are intended to ease the pressure on financial markets, thereby reducing the supply of homes and businesses and other strains of credit to help promote economic activity.
The central bank has agreed to reduce the pricing of 50 basis points in the existing temporary dollar liquidity swap arrangements, the new interest rate, the U.S. dollar overnight index swap (OIS) rate plus 50 basis points. This pricing will be applied to from the December 5, 2011 for all operations. The authorized currency swap arrangement has been extended to February 1, 2013. In addition, the Bank of England, Bank of Japan, the European Central Bank, Swiss National Bank will continue to tender for three months, until further notice.
As an emergency measure, the central bank also agreed to establish a temporary bilateral liquidity swap arrangements, in each national currency in any jurisdiction that can provide liquidity conditions, the warrants market. Currently, there is no need to provide their national currencies other than U.S. dollars of liquidity, but the central bank to determine prudent to make the necessary arrangements to enable the liquidity support operations can be put in place quickly should the need arise. Swap lines until February 1, 2013.