Get notifications in real-time for staying up to date with content that matters to you.
The US Federal Reserve (Fed) has cut the official cash rate overnight to an unprecedented zero to 0.25 per cent range as the outlook for the economy continues to deteriorate.
“Overall the outlook for economic activity has weakened further” and “inflationary pressures have diminished appreciably”, according to the Fed’s Federal Open Market Committee – which sets monetary policy.
To promote the resumption of sustainable economic growth and preserve price stability the Fed said it would employ all available tools, including the purchase of agency debt and mortgage-backed securities to provide support to the mortgage and housing markets.
The Fed also commented that weak economic conditions were “likely to warrant exceptionally low levels of the federal funds rate for some time”.
Major bank overhauls assessment process
A big four bank has bolstered its assessment team and will priori...
Industry reacts to cash rate decision
The Reserve Bank of Australia has announced its decision to leave...
Ignorance of extended asset write-off a boon for brokers
More than a third of SMEs are unaware of the extended instant ass...
The number one magazine for mortgage brokers
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Receive breaking news direct to your inbox each day
