The Federal Reserve accelerated previously announced purchases of Treasury securities Friday in a bid to prevent strains in financial markets from worsening despite offers to provide vast sums of short-term loans one day earlier.
The Bank of Canada cut interest rates by half a percentage point in an emergency move to buffer the nation’s economy from the double hit from the coronavirus and tanking oil prices.
Funding strains in the banking system worsened slightly Friday despite the New York Federal Reserve’s offer to inject $1.5 trillion of extra short-term funding.
With companies having gorged on cheap money, a reckoning may be coming.
The European Union’s new deal with Brexit Britain envisages a tight trade and security relationship, despite London saying it is seeking looser ties.