The US Federal Reserve has cut its benchmark interest rate by 0.25 percentage points to 2 per cent.
This is the lowest level since November 2004 and the seventh cut within eight months. The new cut comes amid continuing concerns of an economic downturn in the United States. The central bank's decision came after the government Further cut in US interest rates ...
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Ex-governor halts Nigeria probe ... reported US growth at an annual rate of only 0.6 per cent in the first quarter of 2008. The Fed said the "substantial" cuts in the federal funds rate should help improve the performance of the economy. The central bank gave no clear indication whether this would be its last rate cut.
(Deutsche Welle)
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