The Fed declined to cut interest rate cuts at its Aug. 7 policy meeting.
The Reserve Bank of Australia did cut its interest rate by 0.25%, to 3.25%.
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We want to cut the interest rate that was increased because of the action of the Republicans in the last Congress.
The financial markets were boosted by a surprise decision by the US central bank to cut the interest rate at which it lends money to commercial banks.
The government has sent a bill to Congress to cut the interest rate on student loans from 6% to 2%, and says that the poorest 40% of students will receive grants.
The Bank of England has cut its interest rate to a record low 0.5 percent and pumped money into the financial system in the hope that will encourage banks to lend money more cheaply.
The House of Representatives recently voted to cut the interest rate on subsidised student loans by half, to 3.4%, over five years. (The Senate and the White House have to support this for it to become law.) Even Republicans, usually supportive of private lenders, are now turning on them.
By contrast, India's central bank cut its policy interest rate in January and is looking to cut further to stimulate its economy, but may be beaten to the punch by the gathering pace of growth.
The speculation is that the ECB will cut its current interest rate of 0.75% by half a percentage point.
Earlier Tuesday, the Reserve Bank of Australia cut its benchmark interest rate to a record low 2.75%, from 3%.
The ECB last cut its key interest rate, by 0.25%, on 10 May.
The European Central Bank has cut its key interest rate by one half of one percentage point, in 17 months.
For the first time in 10 months the European Central Bank has cut its main interest rate, from 0.75% to 0.50%.
Last month, India's central bank cut its key interest rate to 7.75% from 8%, the first such move in nine months.
India has cut its main interest rate for the first time in nine months in an attempt to revive economic growth.
In June, China cut its benchmark interest rate by 25 basis points to 6.31 percent, and the effects are already being felt.
India's central bank cut its benchmark interest rate for the first time in three years, by half a percentage point to 8%.
In Europe, the Stoxx Europe 600 jumped 1% on continued hopes that the European Central Bank will cut its key interest rate later this week.
The U.K.'s central bank cut its key interest rate to 3.0%, from 4.5%, on Thursday, far exceeding many economists' expectations for a 75- or 100-basis-point cut.
Last month, India's central bank, the Reserve Bank of India, cut its key interest rate to 7.75% from 8%, the first such move in nine months.
Australia's central bank has cut its benchmark interest rate by 25 basis points to 3%, as it looks to counter a slowdown in its mining sector.
At the same time, the Central Bank has taken advantage of the economy's soft patch to cut its benchmark interest rate, from 12.5% in August to 11%.
This was despite disappointment that the European Central Bank had cut its main interest rate on Thursday, by just a quarter of a percentage point, to 1.25%.
On Tuesday, the US Federal Reserve cut its key interest rate from 1% to a range of between zero and 0.25% in an attempt to revive the economy.
The pound had also weakened slightly after the Bank of England on Thursday cut its base interest rate to 5.50%, from 5.75%, on growing signs that the U.K. economy was slowing.
U.S. stocks are now turning higher this morning after the European Central Bank cut its key interest rate by a quarter percentage to 1% in an effort to boost the economy.
On October 8th the Bank of Canada cut its benchmark interest rate by 50 basis points (to 2.5%) in a co-ordinated move with the other main central banks around the world.
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The Federal Reserve cut a key interest rate by a quarter-percentage point Tuesday to 4.25 percent in an effort to buoy a U.S. economy battered by tighter credit and a continuing mortgage crisis.
Earlier Tuesday, the Bank of Japan cut its benchmark interest rate to nearly zero and said it would buy government bonds in a bid to weaken the yen and boost the Japanese economy.
In South Korea the Kospi fell 2.2% to 1785.39, its lowest close since early June, after the Bank of Korea unexpectedly cut its benchmark interest rate by a quarter of a percentage point to 3%.
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