U.S. Federal Reserve cuts interest rate to 4.25%.

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December 11, 2007 - Forex Economic News

U.S. Federal Reserve cuts interest rate to 4.25%.

The United States Federal Reserve cuts its interest rate a quarter of a point from 4.5 percent to 4.25 percent on Tuesday. The Fed's rate cut was widely expected and was a disappointment to many looking for a fifty basis point cut to 4 percent. The Fed is hoping to head off an economic recession in the U.S. as the housing crisis and tightening credit conditions drag on a slowing economy. Lowering the interest rate "should help promote moderate growth over time" and the Fed left open the possibility of future cuts stating that it "will act as needed to foster price stability and sustainable economic growth". FOMC statement.

Forex Trading Rates as of 8pm EST.

EUR/USD 1.4657
EUR/JPY 162.51
USD/JPY 110.88
AUD/USD 0.8734
USD/CHF 1.1305
GBP/USD 2.0343
AUD/JPY 96.8524
EUR/GBP 0.7205
EUR/CHF 1.6568
CHF/JPY 98.0893

Tags: Forex Rates, Forex Trade, Interest Rates, US Federal Reserve------- Blog index

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