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Fed stuns with 50 basis point rate cut as coronavirus risk spreads

Jacob Greber and Hans van Leeuwen
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Washington|London | The US Federal Reserve jumped into the Reserve Bank's slipstream, slashing its benchmark interest rate in an emergency move amid evolving economic risks from the global coronavirus outbreak.

The biggest Fed rate cut since 2008 came hours after finance ministers and central bankers from the Group of Seven economies agreed to "take actions, including fiscal measures where appropriate".

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Jacob Greber writes about politics, economics and business from Canberra. He has been a Washington correspondent and economics correspondent. Connect with Jacob on Twitter. Email Jacob at jgreber@afr.com
Hans van Leeuwen covers British and European politics, economics and business from London. He has worked as a reporter, editor and policy adviser in Sydney, Canberra, Hanoi and London. Connect with Hans on Twitter. Email Hans at hans.vanleeuwen@afr.com
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    Original URL: https://www.afr.com/policy/economy/fed-stuns-with-50-basis-point-rate-cut-as-coronavirus-risk-spread-20200304-p546l8