Federal Reserve set to cut rates again, say analysts

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WASHINGTON DC – The Federal Reserve is expected to cut interest rates by 50 basis points this week, after the May 15 Federal Open Market Committee (FOMC) meeting, analysts have told FX Week.

Will Rugg, senior currency analyst at Standard & Poor’s MMS in London, said a 50-point cut would be prompted by “the overwhelming concern to avoid recession”, which should override any fear of inflation rising, he added.

A string of negative data from the world’s largest economy has fuelled the belief that

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