The US Central Bank's big step against the negative effects of Corona
WASHINGTON: The US central bank has taken a major step toward zeroing interest rates against the growing negative effects of the Corona virus.
According to details, the negative effects of the Corona virus on the global economy have begun to escalate, with interest rates being lowered by the US Central Bank to tie it up.
The US central bank has also announced a $ 700 billion dollars relief package, the central bank issued money to buy treasury bills, mortgage securities, before that European central banks had cut interest rates significantly, the British bank Has also reduced interest rates by 0.25%.
The reduction in interest rates has also significantly reduced the value of the dollar globally; the US dollar has declined 1.5% against the Japanese yen, the value of the US dollar against the British pound has recorded 0.9% decline, while the value of the US dollar against the euro recorded 0.3% decline.
Meanwhile, the bearish trend in Asian stock markets continues, the Japanese stock market saw a decline of 22 points, the Hong Kong index fell 620 points, all Chinese stock markets are recording a downturn, The Korean stock market Decreased 29 points.
Crude oil prices continue to decline in Asian markets, Brent crude oil price dropped 94 cents, Brent crude oil price fell to $ 32 dollar 91 cents per barrel, US crude oil price fell 44 cents, After that the price of crude oil fell to $ 31 dollar 67 cents per barrel.