ICYMI: Here are three potential ways the coronavirus could effect the global banking industry
to hold its 2.25% interest rate steady despite a central bank rate cut, but suspending new account opening to limit costs. Only half of the US workforce works in a job that is compatible with at least partial telework, per data from the American Community Survey by Global Workplace Analytics.
There are several ways that companies could struggle with coronavirus, including reduced staff, lower demand for products and services as consumers go out and shop less, or supply chain disruptions due to factory in China. Affected businesses may need financial assistance to weather the storm, opening an opportunity for banks to create relationships with new customers that are likely to remain after the crisis is over.
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