Shares slump as central bank action fails to ease fears over Covid-19

Ibec has urged the Irish government to launch a major fiscal stimulus package as it expects tens of thousands of retail and hospitality job losses

16th March, 2020
Shares slump as central bank action fails to ease fears over Covid-19
Pubs, such as this one in Dublin‘s Temple Bar, have closed their doors as part of the attempt to encourage social distancing and prevent the spread of Covid-19. Picture: RollingNews.ie

Markets have continued to slump as central banks’ attempts to limit the impact of the coronavirus failed to ease fears of a global recession. It comes as Ireland braces for a wave of job losses.

The US Federal Reserve slashed interest rates by 1 percentage point to between 0 and 0.25 per cent late on Sunday. It also pumped $700 billion into the financial system in a co-ordinated effort with the European Central Bank,...

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