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US Fed drops rates to zero to 0.25 per cent

The US Federal Reserve on Tuesday cut its target for overnight interest rates to zero to 0.25 per cent, bringing it closer to unconventional action to lift the economy out of a year-long recession.

  • Agencies
  • Published: 23:50 December 16, 2008
  • Gulf News

Washington: The US Federal Reserve on Tuesday cut its target for overnight interest rates to zero to 0.25 per cent, bringing it closer to unconventional action to lift the economy out of a year-long recession.

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