The Federal Reserve discusses using forward guidance and longer-term measures to support the damage to the U.S. economy, such as capping interest rates. However, Dallas Federal Reserve President, Robert Kaplan, tells CNBC that consumer confidence and a sense of safety will drive the recovery rather than monetary policy. In the UK, Bank of England governor Andrew Bailey changes the BOE’s policy stance and considers negative interest rates, as the UK government issues bonds at a sub-zero level for the very first time. China’s delayed NPC gets under way with the focus on a potential slower growth rate in the wake of the pandemic. Brazil becomes the new epicentre of the outbreak, as the Latin American country posts a new record number of daily Coronavirus cases. And in aviation news, Lufthansa says it is in advanced talks with the German government over a €9bn state bailout.

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