FLASH NEWS
After Trump's victory, the US cuts interest rates for the second time this year
2024-11-07 22:34:45 / BOTA
Just 2 days after the presidential elections in the United States that determined Donald Trump as the new head of the White House, the Central Bank has announced that it will lower the base interest rate by 0.25 percentage points.
This is the second time since September that the Federal Reserve has cut rates, a sign of confidence that officials believe their fight to stabilize prices is coming to an end.
For anyone looking to borrow, a lower rate from the Fed is good news, as it sets a benchmark for lending throughout the economy, affecting what banks charge for credit cards, mortgages and other loans. .
Today's move means the Fed is now capping bank rates between 4.5% and 4.75% for short-term borrowing.
That's down from roughly 5.3% earlier this year, which had been the highest level in more than two decades.
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