Wednesday, 20 May 2020 () Iceland's central bank reduced its key interest rate by 75 basis points to a record low on Wednesday, as the economy is forecast to contract the most since 1920 due to the coronavirus pandemic. The Monetary Policy Committee of the Central Bank of Iceland, on Wednesday, decided to cut the key interest rate, which is the seven-day term deposit rate, by 75 basis points to 1.00 percent.
RBI slashed its key policy rate for a second time this year. It cut the repo rate by 40 basis points to 4%. The reverse repo rate was also reduced by 40 basis points to 3.35%. RBI also announced a further extension on moratorium on loans by another three months. Watch the full video for more details
A widely-cited study concluded that the coronavirus has a much lower death rate than previously believed. According to Business Insider, the study put the rate of fatalities around .12% to .2%, similar..
Credit: Wochit News Duration: 00:34Published
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