Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
SUBSCRIBE TO OUR NEWSLETTER SIGN UP
Powered by MOMENTUM MEDIA

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

US rates cut by 0.75 per cent

Staff Reporter 1 minute read

The official US cash rate was slashed again overnight by 75 basis points to 2.25 per cent.

The Federal Reserve’s Open Market Committee – which sets monetary policy – attributed the cut to further weakening in the outlook for the American economy.

“Financial markets remain under considerable stress, and the tightening of credit conditions and the deepening of the housing contraction are likely to weigh on economic growth over the next few quarters,” the Committee’s statement said.

The further lowering of interest rates, combined with other actions taken earlier, should help promote moderate growth over time, the Committee said. However it said it will act in a timely manner to further promote growth should it so be needed.

Published: 19-03-08

Advertisement
Advertisement
US rates cut by 0.75 per cent
default
TheAdviser logo
default
more from the adviser
ABA 2020 ta Australian Broking Awards 2020: Technology Platform of the Year finalists revealed!

The Adviser is pleased to announce the finalists for the Technolo...

Mark hewitt Clawback conflicts flagged at parliamentary hearing

The industry needs to address potential conflicts associated with...

ABA 2020 ta Australian Broking Awards 2020: Broker Marketing Platform of the Year finalists revealed!

The Adviser is pleased to announce the finalists for the Broker M...

FROM THE WEB