Central Bank Seen Cutting Rates

The Fed is set to offer more relief for the sagging economy.
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Washington (AP) The Fed is set to offer more relief for the sagging economy.

The Central Bank is expected to slash a key interest rate by between one-half and a full percentage point when it meets today in an effort to blunt the effects of an economic downturn.

There's a great deal of uncertainty surrounding what the central bank will do, other than the consensus that a rate cut of some kind is coming.

Rate cuts have been continuing since September. The fed's key rate has dipped from 5.25 percent to 3 percent over that time. In January alone, the fed cut the rate by 1.25 percentage points. It was the biggest one-month reduction in a quarter-century.