Prospective rate cuts seen as panacea for market turmoil

Tue, 03 Mar 2020

The local stock market may take Wall Street's upbeat lead as investors hope that a coordinated response by the world's biggest central banks, led by the Federal Reserve, will help mitigate the economic impact of the coronavirus.“Risk assets partially rebounded from recent carnage on expectations that central banks, the Fed in particular, is poised to swing into action,” said ANZ Bank New Zealand economist Miles Workman.On Wall Street, the S&P 500 was up 2.2 percent 8am in Wellington, the Dow Jones Industrial Average rose 2.7 percent while t...

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