Fed cuts interest rates
18/03/2008 - 18:27:59The US Federal Reserve slashed interest rates by 0.75% today as policymakers moved to head off an economic recession.
The decision to cut the main US rate to 2.25% comes as fears grow over America’s economy amid a deepening in the credit crisis gripping global money markets.
But the cut was not as much as markets had been hoping for, with speculation mounting that the Fed was poised to trim 1% off rates.
