US interest rates cut again to 1.75%

US - The US Federal Reserve has cut interest rates by a quarter of a percentage point to 1.75%.

It is the 11th cut the Fed has made this year, in its efforts to revive the flagging US economy.

"Economic activity remains soft, with underlying inflation likely to edge lower from relatively modest levels," the Fed said in its statement.

It added that while there were some signs of recovery in the economy, these were "preliminary and tentative."

The Fed also cut its more symbolic discount rate by

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