The US Fed cut interest yesterday in an emergency meeting for the second time in less than two weeks on Sunday evening, by 75 basis points, from 1.25% to 0.25% to reach its lowest historical levels.
The US Fed also reduced the compulsory monetary rate of banks to close to zero in the context of concerted efforts by most central banks worldwide. The bank confirmed that central banks such as: the Bank of Canada, England, Japan, the Australian and the European Central Reserve have taken measures to improve the liquidity of the dollar in the world through an agreement called (swap arrangement).
