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Rate cuts can’t save the global economy from the coronavirus, say analysts

March 6, 2020


Investors are expecting the U.S. Federal Reserve — and other central banks globally — to do more to rescue the global economy from a downturn caused by the ongoing coronavirus crisis.

The Fed lowered its benchmark rate by 50 basis points in an off-schedule meeting this week. But traders have priced in another cut at the next scheduled Fed meeting on Mar. 17-18. The CME FedWatch tool shows around 80% chance of another 50 basis points easing at the next meeting two weeks later.

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