The regulator took emergency measures in connection with the spread of the coronavirus and the fall of markets. For the first time since the 2008 financial crisis, the rate decision was made at an emergency meeting. Donald trump is in favor of even more base rate cuts.
The us Federal reserve, which serves as the country’s Central Bank, lowered the interest rate by 50 basis points to 1 – 1.25% on March 3 as a measure of economic stimulus. The decision was made after an emergency meeting.
The US economy remains strong, but the spread of the coronavirus poses growing risks to economic activity, the fed said in a statement. Continue reading
The French President introduced a delay in utility and rental payments for small businesses. The country’s authorities are trying to support the economy in connection with the spread of the coronavirus.
French President Emmanuel macron, in a televised address to the nation on March 16, spoke about the measures that will be taken to compensate for business losses from the pandemic, Le Parisien reports.
According to the President, small companies “will not pay any taxes or fees.” Water, gas, electricity and rent bills will be frozen for small and medium-sized businesses. Continue reading