Zero rates, zero impact: Fed & co fail to calm markets
Posted on AllSides March 16th, 2020
From The Center
LONDON (Reuters) - Stock markets and oil prices continued to nose-dive on Monday after the second emergency cut in U.S. interest rates in as many weeks — effectively to zero — and supportive measures from all corners failed to quell coronavirus fears.
Central banks across Asia and Europe also cut borrowing costs and pumped funds into the system in a bid to cushion the economic impact as the breakneck spread of the virus all but shut down more countries. But they had limited success in calming panicky investors.
The volatility...