World’s biggest central banks meet as pressure mounts to do more

The US Federal Reserve, Bank of Japan (BoJ) and European Central Bank (ECB), which together cover almost half of global output, will all convene meetings of policymakers this week after the pandemic-driven freezing of economies and turmoil in financial markets propelled them into action. (File pic US Fed HQ in Washington)

NEW YORK: Global central banks remain under pressure to do more to support their economies through the coronavirus recession even after driving interest rates to record lows and pledging to spend trillions of dollars on asset purchases.

The US Federal Reserve, Bank of Japan (BoJ) and European Central Bank (ECB), which together cover almost half of global output, will all convene meetings of policymakers this week after the pandemic-driven freezing of economies and turmoil in financial markets propelled them into action.