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Stock impact report

Global central banks take sweeping action to fight coronavirus [Reuters]

OVERSEAS CHINSE UNSP/ADR (OVCHY) 
NASDAQ:AMEX Investor Relations: coli.com.hk/en/ir
Company Research Source: Reuters
Global central banks take sweeping action to fight coronavirus SYDNEY, March 16 (Reuters) - The U.S. Federal Reserve and its global counterparts moved aggressively with sweeping emergency rate cuts and offers of cheap dollars in a bid to combat the coronavirus pandemic that has roiled markets and paralysed large parts of the world economy. The coordinated response from the Fed to the European Central Bank (ECB) and the Bank of Japan (BoJ) were reminiscent of the steps taken just over a decade ago in the wake of the financial crisis. The moves came amid a rout in stocks and bond markets as investor anxiety deepened over the difficulty of tackling a pathogen that has left thousands dead and put many countries under virtual lockdowns. The Fed moved first on Sunday, cutting its key rate to near zero and triggering an unscheduled easing by the Reserve Bank of New Zealand (RBNZ) to a record low as markets in Asia opened for trading this week. “The virus is having a profound effect on people Show less Read more
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