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Business New Europe:flash: Fed rate cut not working

January 22, 2008

One hour after the Fed announced an emergency 75bp rate cut and markets appear to be unconvinced that it is enough. Investors are still selling again in the US and after a brief recovery on the RTS, the Russian market also gave up all its gains and fell back to 1960, which appears to be the floor for the moment. This result will surely be taken as a bad sign by investors.

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