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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.
FRANKFURT: The mood at Deutsche Bank AG’s headquarters in Frankfurt was tense. It was late March, and clients were drawing down credit lines at such a rapid pace that the bank’s treasury department was on alert.
PARIS: Europe is heading for a double-digit slump in the first half of 2020 amid widespread lockdowns to stem the spread of the coronavirus, according to economists.
FRANKFURT: Now Germany is deploying its financial firepower to fight the coronavirus crisis, convincing the country that it was wrong to shun budget deficits for many years just got even harder.
BANK of France Governor Francois Villeroy de Galhau said Europe’s rescue fund should be activated to lend to states struggling with the coronavirus outbreak, a move that could pave the way for further sovereign bond purchases by the European Central Bank.
BRUSSELS: The European Commission this week is likely to present a tool for the euro zone's ESM bailout fund to fight the effects of the coronavirus epidemic that could unlock unlimited ECB sovereign bond purchases, Vice President Valdis Dombrovskis said.
RISING fears of the coronavirus spread and its potential economic impact unleashed one of the most violent sell-offs in history across global asset markets.
FRANKFURT: The worst rout in credit since the global financial crisis deepened in Asia despite the European Central Bank launching massive extra emergency stimulus and a cut in rates by its Australian counterpart.
KUALA LUMPUR: Bursa Malaysia and key Asian markets continued to slip in early Thursday trade after the rout extended on Wall Street while oil prices lost more ground while more downside was expected for the markets due to the impact of the Covid-19.