Daily Market Review: Fed Cuts Rates by 50bps, BoC Takes the Central Bank Torch
Channel: JFD Brokers
Date: 04/03/2020

Daily Market Review by Charalambos Pissouros

Yesterday, the FOMC decided to cut interest rates by 50bps, the first emergency move outside a scheduled meeting since the 2008 financial crisis, in an attempt to safeguard the world’s largest economy from the impact of the coronavirus. However, markets did not cheer the move for long, with Wall Street indices closing the US session nearly 3% down. Today, it’s the turn of the BoC, which is also expected to cut rates, but the big question is by how much. 

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