were singing really unprecedented action from central banks trillions of dollars in liquidity being pumped into markets by the by the bank of japan and by all sorts of central banks and also really extreme and massive stimulus efforts by governments as well and including here in germany on friday they announced an unlimited policy of giving loans to businesses to help stabilize them but. investors are sort of grappling with the idea that the only way that markets are going to stabilize at this point is if if we see the virus being contained and the only way to contain the virus is to really bring economies to a halt to stop travel to stop people from going outside of their homes so i think investors are really having to think about how this is going to impact the economy in the short term even if he is that the policy measures that governments are putting in place will help businesses stay afloat in the long term in the short term the economic damage could be quite severe you mentioned travel show see it seems like the tourism sector is especially hard hit by can you tell us about that . it's just been i mean absolutely brutal br

>> the bank of japan does not have a lot of room. of japan in the recent period, amid the market selloff, it reminds me of how it behaved after march 2011 earthquake and tsunami crisis. at that time, the governor was very worried that the boj had maxed out conventional and unconventional policy and was focused on maintaining liquidity to make sure there was no sort of dysfunction. that is pretty much what we are seeing from the boj now. liquidityjections of and active in the market. kind ofot seeing the expansion of qe or interest rate cut necessarily on the agenda. hearing from now some media reporting potential more moves from the boj. what form would that take? etft seems to be on the front. that is the area that they feel most comfortable in terms of interest rate cut that could hurt the financial system. baromists have set a high for that kind of move. they are worried about the potential negative side effects of deeper interest rate cuts and are focused on the asset purchase side of the equation. earlier,rategist said we have to

other measures, have also been co—ordinated with other central banks, the bank of england, the european central bank, the bank of japanntral bank, the bank of japan are establishing lars what they call stop lines which allows for funding between these central banks to make sure market dynamics don't lock up sure market dynamics don't lock up like they did back in 2008. it shows that business is going to be put under a big amount of pressure, not just in to be put under a big amount of pressure, notjust in q1 where we are now, but q2, three months into... are you of the view that when the worst is over, as it were, and we see both in europe and in the us, it going in the right direction, as we are seeing now in asia, we might see this sort of the shapely recovery? so as quickly as we go down we return and we see a jump up? quickly as we go down we return and we see ajump up? no, i think we will see a fairly healthy recovery one things are starting to look better, but there are reports out today for example that from health authorities here in the uk that the health authorities —— that the health authorities —— that the

the bank of japan and the deal of difference, really. fjapan and the european deal of difference, really. the bank of japan and the european central bank, both with interest rates in negative territory already so they can't cut much further. even those that can, exactly how much that will do given they can't get factories producing if the factory simply can't source components because of supply chain disruption caused by the virus or indeed if they are closed altogether because workers have been told to go home, and they also can't get people spending if people are afraid to go to cinemas or shopping malls forfear people are afraid to go to cinemas or shopping malls for fear of catching the virus. that's it. these are suggestions that may be global growth could have, you could see them is pretty close to the mark? yes. that was the oecd worst case scenario and i think their worst case could be even worse than that actually. we may well see spending stopping around the world as these fears grow, and also these supply chain disruptions are

the bank of japan governor speaking in parliament. erday, in terms of the bank of japan sweeping changes in april 2 its bond purchase programming. giving themselves more flux ability to buy on the shorter end of the curve. also not wanting to create distortions across the yield curve. really reflecting the strong will to provide funds across the entire curve. much more to come on "daybreak: asia." this is bloomberg. ♪ haidi: chinese airlines have reported results. earlier this month, we had china's aviation regulator numbersng airlines had falling 84.5% in february due to the coronavirus outbreak and subsequent shutdown of the economy. securitiesed from group transportation and automobiles research analyst. great having you with us. i'm wondering how we will place chinese airlines, given the implicit state support and the comparatively quicker recovery of the chinese economy and restocking of the chinese economy and what that means for the recovery across the sector? in china, prices reduced. the aircraft -- [indiscernible] from now, t

might announce measures the bank of japan mightannounce in measures the bank of japan might announceto stimulate its economy that if you look at elsewhere in the region —— region, let's look at hong kong's index, its lower by 296 hong kong's index, its lower by 2% and that is a similar story across the region. we are seeing a lot of red arrows following that emergency rate cut by the federal reserve as you mentioned. investors seem somewhat spooked by the fact that the fed had to act ahead of its scheduled meeting which was only scheduled to start on wednesday and that's what we are seeing, if you look at us futures numbers as well and that's probably not what resident trump had in mind when he said that he was very pleased with how the fed reacted but it seems like investors are more surprised by the fact that the fed had acted so quickly, so dramatically in order to tackle this economic impact. of course, one has to wonder what else is left for the fed to do, given this bazooka that it fired. absolutely, thank you very much mariko oi in our singapore hub. the first human trial of a

the bank of japan adds liquidity and emergency statement from kuroda. 's statement on friday, a triple flooring that came in to boost the u.s. equity markets on friday. larry kudlow came out and there and jay of tariff cuts powell talked about appropriate action so a three-way play causing a bouncing u.s. equity. we are down to the third day in a row on the bloomberg dollar index. what is interesting about this is -- in the meantime, i'll give you your first word headlines around the world. has reached more than 65 countries around the imposingth the u.s. travel restrictions on korea, cases in italy surging 50%, past saying thefficials chances of containment are narrowing. concern has led to the cancellation of major energy conference in houston. asian factories tumbled in february under the weight of the rapidly spreading virus with a severe plunge in activity in china driving down the output across the region. the nation's pmi dropped to 40.3, the lowest reading since the series began in 2004. south korea's pmi dropped to a four-month low. italy is aim

the fed joined the bank of canada, bank of england, bank of japan, ecb and the swiss national bank indow is on track to plunge more than 2,000 points or 9 and-a-half percent right out of the opening bell this morning on losses of the 30 stocks that make up the dow and that of course will mean that we could see a trading halt right out of the gate. global markets are also selling off this morning, european indices are red across the board. countries in europe are on lockdown. there is a different strategy in the u.k., however. where they're encouraging people to go out but spain and france lockdown. germany as well. the fq100 down 363 points right now, 6 and three quarters percent. the cac in paris down 382 points, 9%. and the dax index in germany down 730 points, that's 7.8%. asian markets also under pressure. we have economic news out of china overnight and the numbers are bad. industrial output for the first two months of the year plummeted 13 and-a-half percent. retail sales over january and february down 20 and-a-half percent. in japan, the bank of japan is boosting stimulus by bu

broached the possibility, especially from republicans, who said that we don't want the fed like the bank of japaning stocks are like the european central bought -- bank buying corporate bonds of general motors. they should just stick to their knitting. the fed bank president is resurfacing the idea, but i suspect there will be pushback from congress about that. as you say, the fed would need to get congressional approval to be able to do that. scarlet: nothing happens in washington quickly. bloomberg's miller, thank you. let's check the latest is this flash headlines. the coronavirus could delay the launch of apple's 5g iphone according to bank of america, who spoke as an expert on the supply chain. the delay could be more than a month. some factors and china are just coming back. reduce --produce -- the german airline says it has had drastic declines in bookings and numerous flight cancellations. hedge fund manager steve cohen is raising a new fund that will invest in private companies. lumbar has learned that he plans to raise $900 million and will make venture and private investment in the ent

bank of japan is an interesting conversation with guests when you look at what they've done. lot of people look me the ecb and bank of england saying they be they can take example from the boj. on to china, its manufacturing activity rebounded sharply in march signaling the economy is bouncing back despite the slump in global demand caused by coronavirus. i think official pmi growth is around 52 up from the record low , 35.7 was back in february. china and the specter of inflation worldwide we are back with nikhil. if you look at the figures, they are much better. can the rest of the world use china as a template. how to deal with coronavirus, and if so with the damage to the world economy being much more limited than we are thinking. ishil: i think china particular to that. they have committed huge amounts of fiscal spending. pretty efficient at getting it there into the right places. i think we will see let's wait and see. i don't think the chinese recovery is going to be a v-shaped rate we are going to take two or three more before they get to a stable place. i think it's g

earlier i spoke to a former policymaker with the bank of japan and now executive economist at the research institute. i asked why he thinks the fed and the boj have now taken these steps. >> yeah, i think that the main purpose of this kind of reactions by the central banks is to ease the financial market, injecting a huge amount of liquidity in the market. not only stimulating the economy because the market -- it leads to the fininancial prices that could cause a huge impact to the economy. so preventing this kind of situations i think that action was necessary. >> one is prevention, the other is stocks, been declining in the united states yesterday. we are seeing kind of a mixed session in japan today. it was dropping yesterday in europe as well. why is the market unable to take in these monetary measures in a positive fashion? >> i thihink that the market wa disappointed on the outcome of bank of japan's decision. because they didn't include that rate cut. but i think that t the boj believed t that the financialal market injecting money is more important than the rate cut. bubut the fina

the bank of japan has the etf problem which is 6 trillion japanese yen per year, will be good enough size prediction. also japanese companies are eager to buy back their shares at the lower point of the stock prices. and that also is falling faster over the japanese equity. if the coronavirus doesn't peak out sometime soon, stock price will stay below 20,000 in nikkei 225 but the down side will be limited. >> he says although the impact of the coronavirus will gradually weaken, investors need to keep a close eye on the outbreak in the meantime. >> we believe, strongly believe, the fundamental issues that we need to focus on is the coronavirus impact which has been already peaked out in china. and now it's spreading outf the world, but we believe it will be peaking out. so, the daily monitor on the coronavirus new patient or new cases, that is the most important indicator we have to watch. >>> japan's gdp for the final quarter of 2019 has been revised downward. officials say the change was mainly due to lower capital expenditures. the cabinet office says the gdp shrank an analyzed 7.1

i've mentioned this before and it's pretty much happened in europe and throughout asia and the bank of japan which is the major. purchaser of the e.t.f. products is exchange traded funds stocks and risk national bank fine stocks e.c.v. will start buying stocks and they are buying stocks they're buying on right now that it's not a long time from now until the fed says what we're going to start buying equities so this is a problem because it's not capital with. we're all we've got to intervene and the need to lay price action you know the buyout of an e.f. 5 healthy m.h. with our man i thought negative you're going to bond markets so that means the e.c. we pay rates is rich is made to 5. 1000000000 dollars in low how does that help main street it doesn't this problem these guys have self-interest they don't care what happens to main street does burn down long as they get paid what's next thing to pull out of the bag of tricks you know i told you can get a marginal marginal return for that because increment you know now they have to spend $3.00 to make it makes no sense whatsoever they're burni

last 2025 years that's been the migration of all activity all global economic activity has been migrated to the central bank so let's look at the bank of japan probably the most important of the central banks of any of the central banks they've been out the doubling of their purchase of e.t.s. or stocks so my theory has been for a couple of years now that the whole markets are taken private so if the bank of japan or the federal reserve bank and other such of banks are going to print trillions of. money what they're what they're doing with that money that they're not giving it away to build shelters for the homeless people that need it or the people who have just lost their jobs or need relief or hospitals know they're using it to buy back stock they're using it to take everything private because this fits into neo feudalism this is neo feudalism i would also posit that that could be the gradually and then suddenly paradigm of looking at things it worked in 2000 to 2002 it worked in 2008 to 2010 it might work now but eventually it'll you know it seems to work over and over and then suddenly it won't but i also want to point out one other thi

the bank of japan has unveiled a series of emergency monetary policy measures to shore up the world's 3rd largest economy amid the coronavirus pandemic the news however doesn't seem to be calming investors tokyo's nikkei fell after early gains and australia's index tumbled nearly 10 percent its biggest loss ever markets and hong kong and shanghai were also trading lower and that's after chinese authorities released a data showing just how much damage the coronavirus has done to the world's 2nd largest economy retail sales have dropped 20.5 percent and industrial output fell by 13.5 percent. over to our financial markets respond and chelsea do lanie in france and chelsea going by the data from asia investors here are looking at another rocky week ahead right. now it is looking like another brutal open for stocks here and you're out for it dax is pointing down about 4 percent in the futures market broader european stock and x. is also looking to fall about 3 to 4 percent so. the markets here are certainly looking to have another dramatic week this is really coming after significant move

number one, the fed would like to have a few of its colleague central banks come along the ucd, the bank of japan, the bank of canada meets tomorrow. it is likely to cut. we suspect there will be more easing measures over the next few weeks. so that's the first one. and with respect to traditional rate cuts, you have to consider, the market to the end of this year was implying fed funds would be about 55, 60 basis points around a half a point by the morning fed. so for the fed to deliver another 50, it wobble more or less in whine the margaret people thought, great, now i'll refinance. overlooking that it could have risen. will they get a tail wind? will they get help from the refinancing boom or other housing related it because of this >> absolutely. not only that but the engagement with investors leads to us believe the trading revenues for the likes of morgan stanley, city bank, it will all be higher refinancing will accelerate with rates being this low and that will help names like truist or a fifth third or a citizens financial. of course chase, jpmorgan are our biggest. i would point out, r

the bank of japan has unveiled a series of emergency monetary policy measures to shore up the world's 3rd largest economy and that the coronavirus pandemic the news however doesn't seem to be calming investors tokyo's nikkei fell after early gains and straightest index tumbled to nearly 10 percent its biggest loss ever markets in hong kong and shanghai were also trading lower that's after chinese authorities released data showing just how much damage the coronavirus has done to the world's 2nd largest economy retail sales have dropped 20.5 percent and industrial output fell by 13.5 percent. and for more i'm joined by the investment director at fidelity investment joining me in hong kong good to have you with us major the latest numbers from china didn't really come in as a surprise yet markets drop paolo can this go. well if you look at what's happening with the markets really it's a really sentiment that's having an impact and this sentiment in fact is because of 2 sort of black swan events because of say the coronavirus as well as the fall in the oil price. and and that's exactly wh

the bank of japan spend stimulus, but stop short of lowering its negative rate. heard the bank of korea will hold an emergency meeting today. let's get the latest. our reporter is standing by. let's come to you on the reaction we are seeing from central bankers. the fed and the boj reacting late in the night, for us here in europe, and the boj early this morning. what are they trying to achieve? what is it that is worrying central banks? coronavirus has an impact on economies, but is there something more to it? reporter: i think specifically they are trying to target the part of the economy that needs it most, the financial system trying to avoid economies seizing up. trying tothey are address any risk of a dollar shortage. the fed set up the dollar swap line with four or five other central banks around the world. that is all about making sure the demand for greenback is met. the bank of japan coming in with their action. one of the steps they have taken is a zero interest rate lending program for companies. in. are trying to get money they know that monetary pol

and the headline here is that the bank of japan, the central bank in that country, is also now suggesting it's ready to act against covid-19, if necessary. this follows, of course, what we heard from the u.s. federal reserve as well. in the first quarter hour of trading in europe so far, we have seen that the -- here in london is up 2.5%. the dax in germany is up nearly 1.5%. and the wider index in europe is trading up 1%. asia did set the pace with shanghai up 3% on the day. somewhat of a relief that the bank of japan is ready to act. we had the nikkei index up nearly 1%. south korea, about three-quarters of a percent. let's not overlook the danger to the global economy here. we were coming into 2020 with the threat of a recession. very mediocre growth. it sounds decent, rosemary, but it actually is not. and this could tilt it into recession as time goes on depending how this plays out. and i think the most profound impact has to be in the tourism sector itself. we heard over the weekend that the largest oil and gas in the united states which was supposed to take place in houston next we

departure from his usual fiscal discipline and now $150000000000.00 euros in new debt and the bank of japan purchase another $200000000000.00 yen of e.t.s. which is a daily record now over in the u.s. however politics got in the way resulting in a whole lot of nothing the major indexes pare losses at noon after senate minority leader chuck schumer said and a massive stimulus package is very close to being done this package to combat the economic damage from the crown a pandemic will likely total more than 2 trillion dollars which is about 10 percent of the u.s. economic output initiatives include programs to help main street is a poor lending to enable small to medium sized businesses tech focused lenders such as square paper into it and stripe are also lobbying to be included in part of the stimulus plan as many small businesses leverage the digital marketplaces for loans however as up. all it takes senate democrats refused for the 2nd time to advance mcconnell plan as they had other things on their agenda which had absolutely nothing to do with the coronavirus equities relinquishes gains

economy last week lost about 5 trillion us dollars and it comes after these comments from the bank of japan rare comment from the bank ofjapan, they intervene. it is a rare comment from the bank of japan, they haven't made such a comment since 2016, when they said following the brexit vote they said following the brexit vote they said they would be willing to intervene. it also comes off the back of comments from us federal chairjerome powell on friday saying they are going to intervene. but we're also seeing ongoing jitters when it comes to really interesting data when it comes to china's manufacturing. it shows the effect how bad the shutdown has been throughout february and what this might mean in terms of the global economy forward. we are seeing small to medium enterprise data and that showed it hit a record low, down to about a0. if this data is correct and there has been that level of low manufacturing in china, that's going to have effects on the global economy because we are buying so many products from them. katie, thank you so much. we were hoping to show you some numbers on the

departure from his usual fiscal discipline and now $150000000000.00 euros in new debt and the bank of japan purchase another $200000000000.00 yen of e.t.s. which is a daily record now over in the u.s. however politics got in the way resulting in a whole lot of nothing the major indexes pare losses at noon after senate minority leader chuck schumer said a massive stimulus package is very close to being done in this package to combat the economic damage from the crown a pandemic will likely total more than 2 trillion dollars which is about 10 percent of the u.s. economic output initiatives include programs to help main street is a poor lending to enable small or medium sized businesses tech focus lenders such as square paper into it and stripe are also lobbying to be included in part of the stimulus plan as many small businesses leverage the digital marketplaces for loans however as up. politics senate democrats refused for the 2nd time to advance mcconnell plan as they had other things on their agenda which had absolutely nothing to do with the coronavirus equities relinquishes gains and sol

stabilise the global sell—off and this is after the bank ofjapan sell—off and this is after the bank of japanhis is after the bank ofjapan moved to take effo rts bank ofjapan moved to take efforts to try and stabilise the market and we saw the central bank making a rare statement, something it often does not do, think they would strive to provide ample liquidity and ensure stability in financial markets and that of course after the massive sell—off that you were just telling us about. the federal reserve on friday said something similar. they hinted ata something similar. they hinted at a fresh interest rate cuts at a fresh interest rate cuts at the ranks next meeting but of course all of this is still up of course all of this is still up in the air. we are seeing markets reversing that analysts are still warning of further turmoil on trading floors as governments struggle to contain the coronavirus, which is now killed more than 3000 and infected am almost 19,000. 0k, thank you. joining me now is markus kuger, chief economist at dun & bradstreet. you are listening to that in watching markets

abrupt departure from its usual fiscal discipline announce a 150000000000 euros in new debt and the bank of japan purchased on a 200000000000 yen an e.t.f. which is a daily record now over in the u.s. however politics got in the way resulting in a whole lot of nothing the measure and next these parents losses at noon after senate minority leader chuck schumer said a massive stimulus package is very close to being done in this package to combat the economic damage from the current a pandemic will likely total more than 2 trillion dollars which is about 10 percent of the u.s. economic output initiatives and clear programs to help main street to support lending to enable small to medium sized businesses tech pokus lenders such as square pay pal intuit and stripe are also lobbying to be included in part of the stimulus plan as many small businesses leverage the digital marketplace that's for loans however as a politics senate democrats refuse for the 2nd time to advance mcconnell plan as they had other things on their agenda which had absolutely nothing to do with the coronavirus equities relinquishe

the second session on hopes of action from central banks around the world amid the coronavirus outbreak you can see the massive surge in stocks comments from the bank of japanan central bank, imf and more giving investors reason to buy that historic selloff. one stock up big yesterday we are talking about apple surging and seeing its best one-day gain since 2008. apple shares up there. $301.35 for apple stock. indicating a higher open by about 75 points off the best levels of the session. if these gains hold in the opening bell, the s&p would open up as well dow futures were very low at one point. we've climbed higher off the session indicating another green day at least for now several factors are at play, number one, the reserve bank of australia is cutting the key interest rate by 25 basis points number two, now early reporting that fed chairman jay powell and treasury secretary steven mnuchin will be, quote, coordinating a conference call to discuss response to the coronavirus outbreak both good news for investors initially. number three is giving pause as a draft statement from the g-7 makes no direct calls for additional fiscal support amid the outbre

we are getting breaking news out of the bank of japan as well. an emergency -- boj holding an emergency to discuss money control matters, according to the bank of japan. this as we saw the fed cut rates by a full percentage point. we had expected a measure from the bank of japan after governor kuroda pledged ample liquidity for the markets. again, the bank of japan holding an emergency meeting from noon today. let's go to our asia cross assets editor, joining us now. what can we expect out of this emergency meeting? the last we heard was governor kuroda was pledging ample liquidity for the market. chris: that's right. unclear is whether this is a policy meeting or a meeting simply to assess the state of the markets, the fed decision. we will presumably learn more. will be thejapan's next pressure point for the markets. the fed was willing to do a one percentage point cut and that will lift expectations for some sort of action by the bank of japan this week. what we have seen so far is that governor kuroda is very much focused on liquidity and not

more intervention from the bank of japan, is that next?ot afford it due to the depreciation of the yen. we have to look at the export market. we are trying to buy as much as possible and keep it steady. we are beyond the intervention stage for the bank of japan. manus: well done, rolling with the punches. my guest this morning. markets are rallying. down yesterday on stocks. there is a reprieve on a payroll headline. will that save the markets? anna and matt will decide. ♪ ♪ tv just keeps getting better. how you watch it does too. this is xfinity x1. featuring the emmy award-winning voice remote. streaming services without changing passwords and input. live sports - with real-time stats and scores. access to the most 4k content. and your movies and shows to go. the best tv experience is the best tv value. xfinity x1. simple. easy. awesome. xfinity. the future of awesome. -- goodorning, well to " morning, welcome to "bloomberg markets: european open," i'm anna edwards alongside matt miller in berlin. matt: asian stocks rebound after the wor

likewise from the bank of japan. the firepower within g7, g20 from the monetary and fiscal point of view. dollar-yen was rolling over. appropriate support, ample liquidity from the boj, appropriate action in terms of qe. appropriate seems to be the byword central bankers are latching to. and valueon of wealth last week in the s&p 500 so i will not get that excited about a .5% rally, but it has turned around. injected liquidity, three rate cuts talked about. you have the beginning of a perception of -- what is the yield on the s&p 500 relative to a bond yield? we will discuss that with my guest in a moment. oil, if you are staring down the byss, you could sniff out a $30 barrel of oil. objectorsost defiant to a cut at the table. pressure filing up on the fed and a central banks around the world to respond to the coronavirus outbreak. jerome powell says the virus proposes evolving risks, u.s. growth. he says he is prepared to cut rates if necessary. goldman goes for a 50 basis point cut this month. japan, the boj offer

to have to go to some kind of qe and quite honestly, it wouldn't be so bad if they did what the bank of japan did and brought in the protection team, whereas the bank of japan yesterday bought $1 billion worth of etfs, equity etfs. while i don't think this fed will do it, it's certainly not a bad idea. liz: we are showing the fed funds futures for april but we have a meeting before then, on march 17th, andy. that's 100% chance of another rate cut. how much more do they cut there and we see a 60% chance just a month later for april's meeting. >> liz, the way we see it is they won't cut again on march 18th. liz: they won't? >> they did shock and awe today. no, i don't see it. as you aptly pointed out at the beginning of the show, they had six bullets this morning. they used two of them. they've got four left. you don't want to use them right away. in other words, they are going to be meaningless. look what happened today. you did two and it did not have the desired effect so why are you going to do it again? stupidity is when you make the same mistake over and over again, get the result you don

of hunkering in place. haidi: joshua walker, japan society ceo with the latest on the postponement of the tokyo 2020 on the games. we are just getting the banknions. this is from the march emergency policy meeting. this is what we are getting in terms of these lines. ample liquidity is a priority for the time being. one business saying the bank of japan must move the corporate financing as a priority as well as talking about getting the right to add easing to ensure stability in the market as well as talking about the need to contain the rise of risk premiums with etf buying. this as the bank of japan really stretched its limits in terms of the already extraordinary policy we have seen when it comes to the monetary policy front. rightly of the economy saying japan's economic activity has been weak recently and that special attention needs to be ofd to the outbreak covid-19. that constraint really being worsened by the outbreak and also talking about the lack of stability in financial and capital markets as well. taking a look for the future conduct of monetary policy, the boj saying it is possible to purchase the jgb's at that annual pace to

markets also continue to drop its tokyo's nikkei down in spite of emergency monetary action on the bank of japan hong kong and shanghai were also trading lower but after chinese authorities released data showing retail sales down more than 20 percent and industrial output down by 13.5 percent. and my colleague jealousy delaney is standing by for us at the frankfurt stock exchange tells the stocks keep falling despite central bank measures what are investors looking for. at this point investors don't really know what can be done to stem the losses we're seeing in stocks this is a completely unprecedented to ration for most investors and the normal playbook doesn't really apply we've heard only we've heard over the past couple of weeks just repeatedly that investors wanted central banks to step in and provide liquidity to markets that government should step in and start providing cheap loans to businesses support for the unemployed and we have seen that over the past several days the fed the e.c.b. the government here in germany they're all providing really unprecedented stimulus to the economy an

from years of uncertainty over breaks it and experts are speculating about an intervention by the bank of japan the country doesn't have much wiggle room for a rate cut in the central banks key interest rate is already at minus 0 point one percent the european central bank is in a similar situation its key interest rate is in there could have territory as well of minus 0.5 percent but the coronavirus might force it to provide even more liquidity to the banking system a decision is expected later today and will be covering that of course as the e.c.b. doesn't have much room for maneuver in the interest rate department one option available is to buy more government bonds in the financial markets the money goes directly into member states national budgets and the interest rates that the states pay for the bonds decrease the e.c.b. has been spending up to $20000000000.00 euros on government government bonds per month since november it may ramp up this spending it previously used the method after the 2009 financial crisis pumping around 2.5 trillion euros into the markets so only hours away from a s

the bank of japan -- rba meet tomorrow. first rate cut for a major central bank and others could will follow area today, people have got a few things from the central banks. this looks like there is a little bit of a turning point here. this is something we can take positively and you are seeing that reflected in some rebounds in market today. is dollar you want telling us at the moment? -- dollar yuan telling us at the moment? mark: quiet when you consider the higher volatility going on elsewhere. some people could be looking back at 2009. it is way too early to say this is a repeat of the global financial crisis but one of the outstanding features of that period was china kept the dollar yuan exchange rate extremely quiet. it was centered around 6.83 and it stuck very close to that for a year. it hardly fluctuated more than a very small amount each side of that. people may be beginning to think again that amid the turmoil in assets, china could be happy to see the yuan on a quiet path and just let the stocks and the bonds

that was such a big battle for the bank of japan. k does the coronavirus have in this respect, and i suppose in terms of sentiment, is a better for the government to act with certainty and cancel the big events ahead of time so markets and investors and the public are cooperating with some degree of knowing what is going on? or is it better to carrying on with confidence that things will get better? the japanese economy was doing relatively well. the labor market was very tight. so we were just waiting for the wages to come up in order to achieve the inflation target. i'm afraid this incident has provided a very big negative impact on the situation. the government and the central being,ould, for the time do whatever it can to prevent widespread of the coronavirus. determination to supporting its economy from going -- getting worse. i think the government and the central bank is ready to take active measures. thethe difficulty is that coronavirus shock is a shock on the supply chat -- side as well as the demand-side. it is not easy to

. ♪ >>> policymakers at the bank of japan have announced measures to ease the impact of the coronavirusandemic on the economy. the boj's meeting followed a surprise move by the u.s. federal reserve to slash its key rate to near zero. the bank met on monday, two days ahead of schedule. it would increase purchases of exchange traded funds of 12 trillion yen or about $110 billion a year. and it will double its acquisition of real estate investment funds. policymakers will also increase purchases of commercial paper and corporate bonds. the central bank plans to offer interest-free loans to commercial financial institutions. it hopes this will boost lending to struggling businesses. >>> this is "newsline biz." i'm gene otani. the boj governor haurhiko kuroda said the central bank is doing all it can to prop up the economy. he takes a cautious view when the it comes to the global economic outlook. >> translator: at this moment, kyong anyboi don't think anybody believes we will face a slump in the financial economy. in terms of the global economy it's hard to predict a v-shaped recovery. >> k