March 2020
U.S. Fed rate cut by 50 bps due to Coronavirus threat
Marmore First Take Report
Pages : 2
Executive Summary
- The U.S. Federal Reserve announced an emergency rate cut of 50 bps on March 3, 2020 citing the threat of novel coronavirus affecting economic growth in the near term.
- The unscheduled rate cut by the U.S. Fed was the first such instance since December 2008, where policy action has been initiated away from a scheduled meeting.
- The Central Banks of UAE, Saudi Arabia, Qatar and Bahrain followed suit by effecting cuts of 50 bps in their respective policy rates. Central Bank of Kuwait reduced its discount rates by 25 bps from 2.75% to 2.50%.
- Whilst the effectiveness of the move is debatable, it shows the U.S. Fed is very receptive to the financial markets and is focused on preventing a recession in the near term at all costs.
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FAQ
Who prepared this report?Experienced and qualified team of Marmore Mena Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.
How exhaustive is this report?
The report spans 2 pages
Can I only download certain sections of the report?
No. The report can be downloaded in full length only
Can we ask questions?
Yes, by all means. You can write your queries to us at enquiry@e-marmore.com
Executive Summary
- The U.S. Federal Reserve announced an emergency rate cut of 50 bps on March 3, 2020 citing the threat of novel coronavirus affecting economic growth in the near term.
- The unscheduled rate cut by the U.S. Fed was the first such instance since December 2008, where policy action has been initiated away from a scheduled meeting.
- The Central Banks of UAE, Saudi Arabia, Qatar and Bahrain followed suit by effecting cuts of 50 bps in their respective policy rates. Central Bank of Kuwait reduced its discount rates by 25 bps from 2.75% to 2.50%.
- Whilst the effectiveness of the move is debatable, it shows the U.S. Fed is very receptive to the financial markets and is focused on preventing a recession in the near term at all costs.
Table of Content
Key Questions Addressed in this report
This report can add value to
Customize this report
FAQ
Who prepared this report?Experienced and qualified team of Marmore Mena Intelligence has prepared this report. Since its inception, Marmore has published over 1000 research reports and covered more than 25 varied industries and policy segments; all focused primarily on the GCC economies.
How exhaustive is this report?
The report spans 2 pages
Can I only download certain sections of the report?
No. The report can be downloaded in full length only
Can we ask questions?
Yes, by all means. You can write your queries to us at enquiry@e-marmore.com
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