Fed delivers emergency rate cut amid virus threat
The vote for the emergency cut to a range of 1% to 1.25% was unanimous
03 March 2020 - 17:54
Washington — The US Federal Reserve delivered an emergency half-percentage point interest rate cut on Tuesday in a bid to protect the longest-ever economic expansion from the spreading coronavirus.
“The coronavirus poses evolving risks to economic activity,” the Fed said in a statement to announce the move, its first such intermeeting cut since October 2008 during the financial crisis...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.