World Economy

May 1, 2008

The Fed's rate falls further by 25 basis points

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The U.S. Federal Reserve announced a further drop in interest rates by 25 basis points, perhaps the last of the current cycle of monetary support for an economy shaken by the crisis in the market real estate and credit.

The federal funds rate (Fed funds) is now at 2.00%, its lowest level since December 2004.

This relaxation, widely anticipated in the markets, is more modest than the previous decline rate by 75 basis points, announced on March 18.

The U.S. central bank has now cut a total of 3.25 percentage points its key interest rates since mid-September.


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by erectusplus at 7:23 PM |