WASHINGTON, Oct 31 (Reuters) The US Federal Reserve cut the benchmark federal funds rate rate by a quarter-percentage point to 4.5 percent on Wednesday to buffer the economy against a housing downturn and tighter credit conditions.
The decision by the central bank's Federal Open Market Committee was widely expected by financial markets. The U.S.
central bank lowered rates by a more aggressive half-percentage point at a meeting last month in response to market turmoil and abruptly higher risks to economic growth.
Reuters BJR VP0025