Long story short is the Federal Reserve has cut rates to zero and will pump in 700bn ion QE
Longer story:
- Federal Reserve acts on a Sunday evening to slash rates to near zero
- BoE Carney and Bailey comment on the coordinated global central bank cuts
ECB comments:
- ECB says ECB and other major central banks to offer weekly US dollar operations with 84-day maturity in addition to existing 1-week operations
- says pricing of all us dollar operations to be lowered to USD OIS rate plus 25 basis points
- ECB says new pricing and additional operations effective as of the week of 16 March, to remain in place for as long as appropriate
