WASHINGTON: Investors battered by the breathtaking drop in global stock markets on coronavirus fears are ever more convinced the world's big central banks, including the Federal Reserve, will soon step in to try to quell the storm.
"It will happen this Wednesday, March 4. Nelson noted that the previous big coordinated actions in December 2007, October 2008 and November 2011 all occurred on a Wednesday."It will be big: half a percentage point at least. The Fed's current benchmark lending rate is set in a range of 1.50-1.75 per cent, and rate futures markets are pricing in a cut of at least a quarter percentage point at the Fed's next scheduled meeting Mar 17-18.
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