US Fed cuts rate by 25 bps
| US Fed cuts rate by 25 bps |
| BS Reporter / Mumbai November 1, 2007 |
| The Federal Open Market Committee (FOMC) decided on October 31 to cut the federal funds rate by 25 basis points to 4.5 per cent. "Economic growth was solid in the third quarter, and strains in financial markets have eased somewhat on balance. However, the pace of economic expansion will likely slow in the near term, partly reflecting the intensification of the housing correction. Today |
Don't miss the most important news and views of the day. Get them on our Telegram channel
First Published: Nov 01 2007 | 1:30 AM IST