US Federal Reserve cuts over night interest rates by 75 basis points

Last updated: 19 March 2008

THE US Federal Reserve has cut interest rates by 75 basis points to bring down the overnight rates to 2.25 in the FOMC meeting held on Tuesday. Prior to that on Friday there was a cut in the rate of interest by 25 basis points in the wake of the rescue effort through concerted action in the case of

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