FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka


Submit Post
STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post



Latest topics

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by EPS Today at 12:05 am

» Understanding inflation and share prices.
by ADVENTUS Yesterday at 11:40 pm

» Sri Lanka fuel prices after revision
by ChooBoy Yesterday at 9:19 pm

» Watch: Investing in Asia in the New Normal- Nimal Perera speaks too
by ADVENTUS Yesterday at 9:06 pm

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by SAGA Yesterday at 5:29 pm

» Prime Residencies IPO. Over Priced?
by High-flyer Yesterday at 5:21 pm

» Losing GSP+: Petty political revenge or Sri Lanka's economy?
by ColomboCSE Yesterday at 2:50 pm

» Stocks rose across Asian Markets after China & US agree to push forward trade, investment ties
by J-CAT Yesterday at 1:28 pm

» LANKA IOC PLC (LIOC.N0000)
by ADAD Yesterday at 1:14 pm

» Be willing to take action toward your goals every day. You only lose when you give up.
by Asoka Samarakone Yesterday at 10:31 am

» LOLC HOLDINGS PLC (LOLC.N0000)
by SAGA Yesterday at 9:55 am

» Shadow Portfolio of a leading HNWI
by God Father Yesterday at 9:13 am

» Lifting of travel restrictions on Monday 14th to boost investor sentiment at CSE
by ADVENTUS Fri Jun 11, 2021 11:47 pm

» Hayleys Group Bull Run in the CSE Over??
by judecroos Fri Jun 11, 2021 9:47 pm

» Daily Foreign Transactions
by Pradeep90 Fri Jun 11, 2021 8:59 pm

» Daily foreign buying/selling 11-06-21
by SAGA Fri Jun 11, 2021 7:41 pm

» Sri Lanka Investment Forum concludes with over 4,500 participants
by Wickyz Fri Jun 11, 2021 7:41 pm

» Daily Crossings
by SAGA Fri Jun 11, 2021 4:40 pm

» CEYLON TEA BROKERS PLC (CTBL.N0000)
by SAGA Fri Jun 11, 2021 2:52 pm

» PEOPLE'S INSURANCE PLC (PINS.N0000)
by Harry82 Fri Jun 11, 2021 12:33 pm

EXPERT CHRONICLE™

ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

CHRONICLE™ NEWS PRODUCTS

FINANCIAL CHRONICLE™

Views & Reviews, Analysis, Evaluations, Discussions, Gossip and Hot Tips relating to Sri Lankan companies listed on the Colombo Stock Exchange (CSE)
Contribute




DAILY CHRONICLE™

Latest news and articles published in Newspapers, Websites, Blogs and other online news sites relating to business and investments in Sri Lanka
Contribute



ECONOMIC CHRONICLE™

This is a section that provide news, views, analysis, predications relating to Political and Socio-Economic factors and how such activities affect the Stock Market and other economic activity of the Country.

Contribute




EXPERT CHRONICLE™

This is an exclusive section for Expert Articles which will help member to share knowledge through comments and responses of the members. All members are allowed to reply and make comments to these articles.

Contribute


Submit Post


CHRONICLE™ YouTube

Youtube Videos and other visual presentations relating Stock market and other investment advise submitted by members or other contributors.

Contribute


Submit Post


කොළඔ කොටස් වෙළඳපොළේ වංශකථාව
කොළඔ කොටස් වෙළඳපොළේ ලැයිස්තුගත සමාගම් කොටස් ගැන තොරතුරු¸විශ්ලේෂණ¸සාකච්ඡා¸ කටකතා¸රසකතා යන සියල්ල අපේම සිංහලෙන් කතා කළ හැකි ‘කතා මණ්ඩපය’

Contribute


Submit Post

CHRONICLE ANALYTICS
All Share Index (ASI), S&P, Milanka Price Index (MPI), Moving Averages and all other analytical graphs and charts

Contribute

Twitter Feeds

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » US in emergency rate cut as coronavirus spreads

US in emergency rate cut as coronavirus spreads

Go down  Message [Page 1 of 1]

Miss-Sangeetha

Miss-Sangeetha
Moderator
Moderator
The US central bank has slashed interest rates in response to mounting concerns about the economic impact of the coronavirus.


The Federal Reserve lowered its benchmark rate by 50 basis points to a range of 1% to 1.25%.
The emergency move comes after the G7 group of finance ministers pledged action earlier on Tuesday.


It follows warnings that slowdown from the outbreak could tip countries into recession.
Federal Reserve Chair Jerome Powell said the US economy remains strong but it is difficult to predict the "magnitude and persistence" of the effects of the spreading virus.

"The virus and the measures that are being taken to contain it will surely weigh on economic activity for some time, both here and abroad," he said at a press conference in Washington.


"We don't think we have all the answers. But we do believe that our action will provide a meaningful boost to the economy."


The last time the bank made an interest rate cut at an emergency meeting was during the global financial crisis of 2008.

 
The decision is a "dramatic turnaround from last week", when many Fed officials appeared confident that rates, already low by historical standards, would not need to be cut further, said Paul Ashworth, chief US economist at Capital Economics said. 



"With financial markets in turmoil and evidence growing that the coronavirus is developing into a pandemic, the Fed's change of heart is entirely understandable," he said.

Mr. Powell said the bank believed the rate cut would help strengthen consumer and business confidence, and keep money flowing.



However, Peter Tuchman, a stock trader at Quattro Securities, said he did not think financial markets would necessarily welcome the move. "They're doing it to support the markets but that makes people fearful that we must be in bad shape," he told the BBC.

"To pull that bullet out so fast and so furiously leaves us with not that much ammo," he said.

Global action


Earlier on Tuesday, both Australia and Malaysia cut interest rates as a result of the outbreak, while finance ministers from the G7 group of nations pledged to use "all appropriate policy tools" to tackle the economic impact of coronavirus.



The group of major economies said in a joint statement they were monitoring the outbreak and ready to deploy "fiscal measures".

On Monday, the Organisation for Economic Cooperation and Development (OECD) warned the global economy could grow at its slowest rate since 2009 this year because of the virus.


The influential think tank forecast growth of just 2.4% in 2020, down from 2.9% in November, but it said a longer "more intensive" outbreak could halve growth and tip many countries into recession.


Growth concerns contributed to sharp falls on major stock markets last week, but shares had started to rebound on Monday amid signs that governments and major central banks would work together to tackle the economic hit of coronavirus.
 
On Tuesday, shares briefly rallied on the decision before continuing 

US President Donald Trump has repeatedly called on Mr. Powell to lower interest rates, ignoring tradition that presidents stay quiet on bank policy to preserve the bank's independence.


Following the bank's announcement, he said it should cut further. "It is finally time for the Federal Reserve to LEAD. More easing and cutting!" he Tweeted.
Mr. Powell denied that the bank had been influenced by political considerations.

Source-BBC /Business

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum