Rate-setters at the Old Lady of Threadneedle Street warned on Thursday that a "sharp" contraction in economic activity around the globe was likely, alongside a "rapid" rise in unemployment across many economies.
Shares on Wall Street are being called to start the session slightly lower following the release of jobless claims figure that brought the worsening conditions in the US economy and jobs market into stark relief.
Federal Reserve President, Jerome Powell, told US broadcaster NBC that the central bank is not going to "run out of ammunition".
Lawmakers in the euro area's largest economy waved the constitutional brake on debt limits as the country faces off against its hardest challenge since the Second World War.
Sales of newly-built homes ran at a faster-than-expected clip last month.
Top Senate leaders appeared to be getting closer to a deal on a spending package to see the US economy through the coronavirus pandemic, although it remained to be seen if Democracts in the lower house of Congress could be brought onside.
The US Federal Reserve has pledged unlimited purchases of government bonds to support businesses and consumers as the coronavirus crisis threatens economic collapse.
Markets underestimate Covid-19's destructive potential to cause a credit crisis that damages even the strongest companies, a prominent US investor has warned.
America's central bank moved rapidly to alleviate the impact from the scramble for US dollars as investors around the world sought out liquidity in the wake of the coronavirus pandemic, including to several of the largest emerging economies.
First time unemployment claims in the US leaped last week as the Covid-19 coronavirus disrupted activity across the accommodation, food and transportation sectors.
The death toll in Italy has risen by a record 475 in one day to reach nearly 3,000, the biggest daily increase since the start of the coronavirus outbreak.
The European Central Bank launched a new emergency bond buying programme, vowing to do "as much as necessary and for as long as needed".
Andrew Bailey, the new governor of the Bank of England, has called for calm during the growing coronavirus crisis, insisting that firms should think twice before laying off staff.
Activity in the US housing market was keeping up a brisk pace at the start of 2020 and some economists still saw scope for growth to resume in the latter half of the year assuming the economy returned to something closer to normal.
The European Union is considering deploying the European Stability Mechanism to help combat the coronavirus crisis.
Leaders from the world's seven most industrialised nations committed to working together to tackle the COVID-19 coronavirus pandemic.
Andrew Bailey, the Bank of England Governor, has pledged to take “prompt action again” to tackle the economic fallout of the coronavirus outbreak, after the US Federal Reserve announced a series of sweeping measures overnight.
Economic activity in China registered its first outright contraction in over three decades at the start of 2020.
The Federal Reserve cut interest rates to between 0. 00% and 0. 25% on Sunday as it announced the launch of a $700bn stimulus programme to help counter the impact of the coronavirus pandemic.
The spreading coronavirus and big falls in stock market prices weighed on US consumer sentiment at the start of the month, the results of the most closely-watched survey showed.