Fed, central banks cut rates to aid world economy – Yahoo! News


The Fed’s action will reduce borrowing costs almost immediately for U.S. bank customers whose home equity and other floating-rate loans are tied to the prime interest rate. Bank of America, Wells Fargo and other banks cut their prime rate by half a point to 4.5 percent after the Fed announcement.

via Fed, central banks cut rates to aid world economy – Yahoo! News.

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