March, 2020

• 4 March

  Brazil mulls rate cut as virus threatens growth

  

  Bloomberg Brazil’s central bank opened the door to more interest rate cuts as it signalled that the outbreak of the new coronavirus creates a bigger risk of an economic slowdown than of a spike in inflation. Policy makers said that they’re closely monitoring the effects of the epidemic on financial markets and on the wider economy. Its impact on Brazil’s ...

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• 4 March

  India’s RBI chief sees rate cut as option amid virus threat

  

  Bloomberg India’s central bank governor said he’s ready to act to shield the economy from the coronavirus and reiterated there’s room to cut interest rates if needed. Speaking in an interview with Bloomberg News in Mumbai hours before the Federal Reserve slashed interest rates by half a percentage point in an emergency move, Shaktikanta Das said “there is a strong ...

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• 4 March

  BOK to monitor, seek to stabilise markets after Fed cut

  

  Bloomberg The Bank of Korea (BOK) said on Wednesday it will seek to monitor and stabilise markets, stopping short of following the Federal Reserve in easing policy to respond to the coronavirus epidemic. The BOK said it would consider changes in the policy environment, including the Fed’s 0.5% rate cut and a joint statement from Group of Seven finance chiefs ...

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• 4 March

  Virus fears drag Indian rupee to record low

  Bloomberg Cracks are starting to appear in rupee’s defences with new coronavirus cases being reported in India. The rupee slid as much as 0.4% to 73.6 per dollar on Wednesday to become the worst performing Asian currency. India has so far reported 28 positive cases, which includes 15 Italian tourists. The currency had stayed relatively stable earlier in the absence ...

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• 4 March

  Emission curbs help Thailand’s jet-fuel firm tackle virus impact

  

  Bloomberg Thailand’s top provider of jet refueling services said its goal of greener business operations will help cushion the blow from the coronavirus outbreak, which is hurting demand by stalling tourism. The firm, Bangkok Aviation Fuel Services, is building a 586-kilometrepipeline from central to northern Thailand to transport oil products for automobiles and industry. The connection is expected to be ...

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• 4 March

  US futures rise after primary elections; dollar steadies

  

  Bloomberg American stock-index futures rose with European equities as investors took in surprises from the US presidential primary along with market reactions to the Federal Reserve’s emergency interest-rate cut. Treasuries higher continued their rally, while the dollar steadied. Contracts on the S&P 500 rebounded from a tumble on Tuesday, when the 50 basis-point Fed move failed to ease concerns about ...

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• 4 March

  Indian stocks fall on reports of new coronavirus cases

  

  Bloomberg Indian stocks declined, with the benchmark headed for its lowest level in more than four months, after the health ministry reported new novel coronavirus cases. The S&P BSE Sensex dropped 1.6% to 37,996.89 in Mumbai on Wednesday after earlier swinging between gains and losses. The index rebounded on March 3, snapping the worst seven-day rout in almost five years ...

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• 4 March

  HK stock swings stand out amid global turbulence

  Bloomberg Just as stocks everywhere are being whipsawed by concern that the spreading coronavirus outbreak could bring global economic growth to a standstill, Hong Kong equities have shown relative stability. The Hang Seng Index hasn’t seen a move exceeding 3% in either direction in six months, while the S&P 500 Index has posted moves of that magnitude in four out ...

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• 4 March

  Target sees no big impact from virus on operations

  

  Bloomberg Target Corp delivered a sanguine outlook for the year ahead, saying the coronavirus hasn’t had a big impact on operations yet while pressing ahead with growth initiatives online and in the stores. While the retailer has witnessed “aggressive shopping” as consumers stockpile food and other household essentials in recent days, Chief Executive Officer Brian Cornell told investors that he ...

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• 4 March

  ‘More US virus travel restrictions coming’

  

  Bloomberg More travel restrictions will be announced soon to help prevent the spread of coronavirus, said Transportation Security Administration (TSA) chief David Pekoske. “There will be additional countries, I’m sure, as we continue to work with the task force, and I think those announcements will be relatively soon,” Pekoske told the US Senate Appropriations Committee’s homeland security panel. The comments ...

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