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Peter Hoskin

Pete suggests


The Fed cuts rates

Tuesday, 11th December 2007

The Fed has cut interest rates by a quarter of a percentage point to 4.25%, although judging by money market rates, the dollar-denominated Libor (London Inter-bank Offered Rate) has not moved much yet. The Fed said it acted in the face of further evidence of a slowing economy and cooling housing market. The Fed said it will “continue to assess the effects of financial and other developments in economic prospects and will act as needed to foster price stability and sustainable economic growth.”

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