Global stock markets rally after US interest-rate cut
Wednesday, 19 September 2007
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Stock markets across the world are continuing to rally amid signs that the global credit crunch is starting to ease.
The rally follows a decision by the US Federal Reserve to cut interest rates for the first time in more than four years in an effort to stop America from sliding into recession.
Experts hope the move will calm financial turmoil around the world and ease pressure on banks that have been felling the pinch as a result of the US mortgage crisis.
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