Fed poised for further rate cut
NEWS
WASHINGTON, DC -- The Federal Reserve is likely to make a further cut in US interest rates this week, analysts told FX Week.
Ongoing concerns and uncertainty regarding the US economy have fuelled the view that, despite lowering borrowing costs by 4.5% already this year, the central bank will make a further 25 basis point cut in rates this week.
"We are looking for a 25 basis point cut," Will Rugg, senior currency analyst at Standard & Poor’s MMS in London, told FX Week. "There is still a need for
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