Vermilion Energy Inc. T.VET

US FED HAS ALREADY PANICKED THIS AFTERNOON

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The Federal Reserve cut interest rates by a full percentage point and launched a package of programs in an unscheduled move Sunday evening to help address problems on Wall Street that have emerged in the aftermath of COVID-19, the infectious disease that has infected nearly 160,000 people globally and claimed nearly 6,000 lives. The Fed cited the pandemic as the reason for a $700 billion quantitative easing program , indicating that the "the coronavirus outbreak has harmed communities and disrupted economic activity in many countries, including the U.S." Fed Chairman Jerome Powell was expected to hold a news conference at 6:30 p.m. Eastern Time to detail the central bank's strategy. The moves come just days ahead of the Fed's two-day policy meeting, scheduled to begin March 17. The action's taken by the Fed marks the second emergency action in about two weeks after the central bank cut interest rates by a half-a-percentage point on March 3, then representing its first emergency rate cut since the 2008 financial crisis. The Fed policy move highlights a tumultuous week for equities, one in which the Dow Jones Industrial Average DJIA, +9.36%, the S&P 500 index SPX, +9.28% and the Nasdaq Composite Index COMP, +9.34% all plunged by 20% from their recent peaks, meeting the commonly accepted definition of a bear market. President Donald Trump during a speech Sunday evening said he was "very happy" with the Fed's moves. The Fed also slashed the rate of emergency lending at the discount window for banks by 125 bps to 0.25%, and lengthened the term of loans to 90 days. The central bank also launched a dollar-swap plan in coordination with the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank and the Swiss National Bank, intended to enhance liquidity in the U.S. dollar DXY, -0.05%, which had been weakening over the viral outbreak in the past 30 days, down 0.4%.

LINK
https://www.marketwatch.com/story/fed-slashes-key-interest-rates-to-0-and-announces-700-billion-qe-program-dollar-swap-to-address-coronavirus-panic-2020-03-15?mod=mw_latestnews&siteid=bnbh