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US rates slashed to buoy economy

Staff Reporter 1 minute read

The Federal Reserve has cut rates by 25 basis points to 4.5 per cent in response to fears of a slowing US economy.

The US property market slump and “disruptions in financial markets” were highlighted as key concerns by the Federal Reserve, with the Federal Open Market Committee judging that following the rate cut “the upside risks to inflation roughly balance the downside risks to growth”.

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US rates slashed to buoy economy
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