Major central banks ready to respond to coronavirus

Jerome Powell: acknowledged the coronavirus poses evolving risks to economic activity

The US Federal Reserve, European Central Bank and the Bank of Japan (BoJ) have all signalled their readiness to counteract the impact of the coronavirus, as fearful investors have triggered sharp moves in markets worldwide.

On February 28, Fed chair Jerome Powell issued a statement on the virus’ potential impact on activity and the institution’s plans to offset them. He stressed “the fundamentals of the US economy remain strong”, but acknowledged “the coronavirus poses evolving risks to

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