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US Fed cuts key interest rate amid economic 'uncertainties'

The target for the federal funds rate is now 2.0-2.25 percent, 25 basis points lower [Photo, AFP]

The US Federal Reserve cut the benchmark lending rate on Wednesday for the first time in more than a decade, moving to stimulate the economy after a year of sustained pressure from President Donald Trump.

The target for the federal funds rate is now 2.0-2.25 percent, 25 basis points lower, and the central bank vowed to "act as appropriate to sustain the expansion."

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