The central banks of England, Canada, Japan, Europe, Switzerland and the US have teamed up to help tackle market instability in the global economy caused by the ongoing coronavirus pandemic. As well as cutting interest rates to near zero and pledging billions of dollars in asset purchases for US banks, the US Federal Reserve has offered cheap dollar financing to fellow central banks around the globe, Reuters reports. “The new pricing and maturity offerings will remain in place as long as appropriate,” says Bank of England By lowering the price on the US dollar liquidity swap arrangements by 25 basis…
Central banks free up US dollar liquidity amid coronavirus pandemic
Central banks free up US dollar liquidity amid coronavirus pandemic
