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 world economy this year will be in recession for the first time since 2009, writes S&P Global Ratings.
The rating Agency S&P Global Ratings released a report “global recession here and now”. Experts predict that the world economy will be in recession in 2020 due to the coronavirus pandemic. Global GDP growth will be only 1-1. 5%, the Agency predicted.
China’s economy has suffered much more damage than previously thought, despite showing “uncertain” stabilization, s&p said. Continue reading