Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

http://www.businessweek.com/news/2013-02-25/fed-funds-opens-at-0-dot-16-percent-within-range-according-to-icap

Bloomberg News

Fed Funds Opens at 0.16%, Within Range, According to ICAP

February 25, 2013

Fed funds, the U.S. overnight inter- bank lending rate, opened at 0.16 percent, within the Federal Reserve’s target of zero to 0.25 percent.

Fed funds closed at 0.15 percent on Feb. 22 after trading from 0.12 percent to 0.17 percent and averaging 0.15 percent, according to ICAP Plc, the world’s largest inter-dealer broker.

The central bank will acquire $2.75 billion to $3.5 billion Treasuries maturing from May 2020 to February 2023. The transactions are part of the Fed’s latest round of debt purchases, known as quantitative easing, aimed to keep long-term rates low and support economic growth.

To contact the reporter on this story: Liz Capo McCormick in New York at emccormick7@bloomberg.net

To contact the editor responsible for this story: David Liedtka at dliedtka@bloomberg.net


LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus