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Copper prices jump most in 2 years as Fed may cut interest rate

Posted on 30 October 2008

From Bloomberg: Copper jumped 10 percent, the most in two years, on speculation the Federal Reserve will lower U.S. borrowing costs, reviving economic growth and demand for metals.

The Fed probably will lower its benchmark interest rate by at least 0.5 percentage point to 1 percent at its policy meeting today, according to the median forecast of 70 economists surveyed by Bloomberg News. Copper had gained 10 percent in the previous two days on expectations a rallying stock market and lower borrowing costs would help ease the global economic slump….. Full Article: Source


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