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Fed cuts rates as expected but indicates a pause next

Oct 31, 2019 13:03 IST

The US Federal Reserve cut its benchmark interest rate for the third straight time on Wednesday. However, the central bank remains divided on the call, with two of the 10 voting members dissenting.

The Federal Open Market Committee also made a key change in the wording of the statement, which indicates it's less certain there will be another move in December.

The FOMC lowered the policy interest rate by 25 basis points to a target range of 1.5-1.75 percent. 

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