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Interest Rate as of January 13, Bank of America Form

Interest Rate as of January 13, Bank of America Form

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now then as we mentioned just before the break there has been some breaking news in the past few minutes in a significant move for the US economy the Federal Reserve has cut interest rates for the first time in four years let's speak to our North America business correspondent Rita Gupta uh hello to you please break down this decision for us and uh any uh initial reactions I know the news has just broken well Sarah it was a super sized cut so we got a 50 basis point cut to interest rates and a promise of another 50 basis point cut by year end so we're taking us to the target range now of 4.75 to 5% that's down from 5.25 to 5.5 and this is the first cut in over four years and if we look at the market reaction to this initially uh we did get a knee-jerk reaction of stocks going higher off the back of this it was seen as a fairly dobish cut here and the dollar also falling off the back of it the Federal Reserve also saying that it sees interest rates at 4.4% at the

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