Fed cuts rates by another quarter point
The US Federal Reserve cut interest rates by a quarter of a point to 4.5 per cent on Wednesday, but warned investors against banking on further monetary easing, sending short-term government bond yields soaring.
The central bank’s Federal Open Market Committee signalled that it was shifting to a neutral stance on future rate cuts, saying “the upside risks to inflation roughly balance the downside risks to growth”. Full article click Financial Times.