Coronavirus: US in emergency rate cut as coronavirus spreads

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2020-03-03 16:43:37 -

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...

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