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CORONAVIRUS CASUALTIES (June 5):- GLOBAL:- Total Cases: 67,02,699; Total Deaths: 3,93,212; Recovered: 32,51,592 BELGIUM:- Total Cases: 58,767; Total Deaths: 9,548 BRAZIL:- Total Cases: 6,15,870; Total deaths: 34,039 CANADA:- Total Cases: 93,726; Total Deaths: 7,637 CHINA:- Total Cases: 83,027 ; Total Deaths: 4,635 FRANCE:- Total Cases: 1,52,444 (sic); Total Deaths: 29,065 GERMANY:- Total Cases: 1,84,923; Total Deaths: 8,736 INDIA:- Total Cases: 2,26,770; Total Deaths: 6,363 INDONESIA:- Total Cases: 28,818; Total Deaths: 1,721 IRAN:- Total Cases: 1,64,270; Total Deaths: 8,071 ITALY:- Total Cases: 2,34,013; Total Deaths: 33,689 JAPAN:- Total Cases: 17,018 ; Total Deaths: 903 NETHERLANDS:- Total Cases: 46,942; Total Deaths: 5,990 PHILIPPINES:- Total Cases: 20,382; Total Deaths: 984 RUSSIA:- Total Cases: 4,41,108; Total Deaths: 5,384 S KOREA:- Total Cases: 11,668; Total Deaths: 273 SPAIN:- Total Cases: 2,87,740; Total Deaths: 27,133 SWEDEN:- Total Cases: 41,883; Total Deaths: 4,562 SWITZERLAND:-Total Cases: 30,913; Total Deaths: 1,921 UAE:- Total Cases: 37,018; Total Deaths: 273 UK:- Total Cases: 2,81,661; Total Deaths: 39,904 US:- Total Cases: 19,24,051; Total Deaths: 1,10,173 - India Travel Times.Com   [Estd: 1998]       * * *    Travel, More Travel, Travel Means A Million Things     * * *    

Coronavirus Updates: US Fed cuts interest rates to bolster up economy

After the emergency rate cut of the great slowdown of 2008, this is the first time the Fed is slashing rates to kick up an economy being crippled by the impact of coronavirus outbreak.

WASHINGTON, Mar 3: The US Federal Reserve today slashed interest rates in an effort to protect the American economy from the adverse impact of the coronavirus outbreak that has already disrupted manufacture, trade and travel worldwide.

This was the first emergency rate cut after the great slowdown of 2008. The central bank said in a statement that it was cutting the rate by half percentage point to a target range of 1.00% 1.25%.

In the statement, the central bank said, "The fundamentals of the U.S. economy remain strong. However, the coronavirus poses evolving risks to economic activity. In light of these risks and in support of achieving its maximum employment and price stability goals, the Federal Open Market Committee decided today to lower the target range for the federal funds rate."

The Fed said it needs to act in order to prevent the possibility of a global recession. The stocks surged on the Fed move.





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