WRAPUP 1-Top central banks appear primed to act to combat coronavirus risk [Reuters]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: Reuters
WRAPUP 1-Top central banks appear primed to act to combat coronavirus risk TOKYO/FRANKFURT/WASHINGTON, March 2 (Reuters) - The world’s top three central banks look set to take steps to limit the economic damage from the fast-spreading coronavirus, with the heads of the European Central Bank and Bank of Japan issuing emergency statements on Monday that echoed one from U.S. Federal Reserve Chair Jerome Powell late last week. The day kicked off with BOJ Governor Haruhiko Kuroda pledging to take actions as needed to stabilize markets jolted by the coronavirus outbreak, and ECB President Christine Lagarde followed suit late in the day with a comparable statement. Powell on Friday promised the Fed would “act as appropriate” to support the U.S. economy. “We stand ready to take appropriate and targeted measures, as necessary and commensurate with the underlying risks,” Lagarde said in a statement issued shortly after U.S. stock markets closed. “The coronavirus outbreak is a fast developing si
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