Global central banks take sweeping action to fight coronavirus

The U.S. Federal Reserve and
its global counterparts moved aggressively with sweeping
emergency rate cuts and offers of cheap dollars in a bid to
combat the coronavirus pandemic that has roiled markets and
paralysed large parts of the world economy.
The coordinated response from the Fed to the European Central
Bank (ECB) and the Bank of Japan (BoJ) were reminiscent of the
steps taken just over a decade ago in the wake of the financial
crisis.