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US Federal Reserve Cuts Rates By Quarter Point
(MENAFN- The Peninsula)
QNA
Washington: The Federal Reserve (the US central bank) on Wednesday cut its key overnight interest rate by a quarter of a percentage point to a range of 4.25 to 4.50 percent.
The Fed said that it will work to slow the pace of decline in borrowing costs in light of the relatively stable unemployment rate and a slight improvement in inflation recently.
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