Home Breaking: Fed cuts policy rate by 50 basis points to 1%-1.25% in emergency move

Breaking: Fed cuts policy rate by 50 basis points to 1%-1.25% in emergency move

Updated: 3 Mar. 2020 | 16:07

The US Federal Reserve has announced that it cut its policy rate by 50 basis points to the range of 1%-1.25% in an emergency move to shield the economy from the negative impact of the coronavirus outbreak.

With the initial market reaction, the USD came under strong selling pressure and dragged the US Dollar Index to 97.20 area.

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