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Prime Rate lowered to 4.00%

Banks lowered the Prime Rate today by 1/2 point to 4.00%.

This was in response to a  1/2 point reduction in the Fed Funds Target Rate by the Federal Reserve, which lowered its target rate for the second time this month.  The next regularly scheduled Fed meeting in set for December 16, 2008.

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This entry was posted on Wednesday, October 29th, 2008 at 2:06 pm and is filed under Interest Rates. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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