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| Version 1 | Version 2 |
|---|---|
| US rate cut to zero - 0.25% range | US rate cut to zero - 0.25% range |
| (10 minutes later) | |
| The US Federal Reserve has slashed its key interest rate from 1% to a range of between zero and 0.25% as it battles the country's recession. | The US Federal Reserve has slashed its key interest rate from 1% to a range of between zero and 0.25% as it battles the country's recession. |
| In its statement, the Federal Reserve warned that "the outlook for economic activity has weakened further". | In its statement, the Federal Reserve warned that "the outlook for economic activity has weakened further". |
| It predicted that rates would stay at the current exceptionally low levels "for some time". | It predicted that rates would stay at the current exceptionally low levels "for some time". |
| It added that it was considering ways it could spend money on supporting the economy and credit markets. | |
| The Federal Reserve is already injecting billions of dollars into the banking system as well as buying debt based on home loans. | |
| Analysts were looking for indications of what policymakers plan to do now that they cannot cut interest rates any further. | |
| The rate has been cut drastically by the Federal Reserve from the 5.25% where it stood in September 2007. | The rate has been cut drastically by the Federal Reserve from the 5.25% where it stood in September 2007. |
| It is the first time that the central bank's key rate, the target rate for overnight federal funds, has been so low since records began in 1954. | |
| Earlier in the day, official data confirmed that the threat of inflation is receding, as consumer prices fell a record 1.7% in November. | Earlier in the day, official data confirmed that the threat of inflation is receding, as consumer prices fell a record 1.7% in November. |