Archive for ‘Kamate’

31. listopada 2007

FED reže za 1/4

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October 31, 2007 2:22 p.m.
WASHINGTON — The Federal Reserve on Wednesday cut its key lending rate for a second-straight month to fend off a housing-induced economic downturn.

[fed funds]

But in an accompanying statement officials signaled that growth and inflation risks are “roughly balanced” and policy action to date should help the economy, suggesting future rate reductions are by no means as assured as Wall Street thinks.

The Federal Open Market Committee, as widely expected in a Dow Jones Newswires poll, voted 9-1 to cut the federal funds rate, the rate at which banks lend to each other, by 25 basis points to 4.5%.

Kansas city Fed President Thomas Hoenig dissented, preferring no rate change. Last month the Fed reduced the funds rate for the first time in over four years, by 50 basis points.

The Fed also lowered the discount rate it charges banks that borrow directly from the Fed by one-quarter point to 5%. It has reduced the discount rate 125 basis points since August to alleviate strains in short-term credit markets.

“Today’s action, combined with the policy action take in September, should help forestall some of the adverse effects on the broader economy” from financial disruptions, the FOMC said in a statement. Last month, the Fed said its rate cut was “intended to help forestall” the effects of financial market disruptions on the economy.

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