“Global central banks are embarking on fresh waves of bond-buying to fight the fallout from the pandemic, despite mounting claims that the once-mighty policy is losing its power to boost the economy.” – by Carolynn Look
Fed
ECB to consider allowing inflation to exceed target, Lagarde says (FT)
“The European Central Bank will consider following the lead of the US Federal Reserve by committing to let inflation overshoot its target after a period of sluggish price growth, it has said for the first time.” – by Martin Arnold
US Fed Cuts Rates to Zero
“The effects of the coronavirus will weigh on economic activity in the near term and pose risks to the economic outlook. In light of these developments, the Committee decided to lower the target range for the federal funds rate to 0 to 1/4 percent. “