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Major central banks announced larger liquidity injections in a bid to wrestle down market interest rates and jointly tackle stubborn tensions on money markets. It is the third phase of coordinated liquidity action to be announced since last December, when some money market rates were nearing their highest levels in seven years. And British banks will be allowed to hold more funds at the Bank of England from May 8, so they don't have to rely so heavily on markets if they need to source cash quickly. The BoE said it would raise its reserves target ceiling for banks from $2 billion to $5 billion. European shares rallied after data showed the U.S. economy lost fewer jobs than expected in April, reinforcing the belief that growth may be stabilising. The FTSEurofirst 300 was up over 1.5 percent. Oil rebounded to $115 a barrel on Friday after three straight days of falls, after the U.S. jobs data eased worries about a deep recession in the world's top crude consumer. And the latest country to be hit by soaring food prices is Russia. Thousands of people protested against rising food prices across the country. The cost of everything from bread to fuel and apartments is soaring as record prices for oil -- Russia's biggest export -- flood the country with petro-dollars. (SOUNDBITE) (Russian) IVAN IVANOV, PENSIONER, SAYING: "We used to pay 10-15 roubles for 10 eggs, but today ten eggs cost about 50 roubles, milk costs 27 roubles and meat 160 per kilo. The traders do whatever they want and the state says this is part of a market economy and they don't put any regulation on it. But they should." For decades under Communist rule prices for nearly all goods and services were set by the state. Today's government says it is committed to the market economy but is coming under increasing pressure to reinstate price controls. Stefanie McIntyre, Reuters COMPANIES MENTIONED: SYMBOLS: