Fresh measures to combat financial market tensions were unveiled by the European Central Bank on Friday, even as scares about eurozone inflation further reduced the scope for cutting its main interest rate.

Extending its armoury, the ECB announced its first injections of six-month money into eurozone markets. A €25bn operation will be launched next week, while a second in July will extend beyond the end of this year. The Frankfurt-based institution will also continue additional injections of three-month money.