U.S. effective fed funds rate dips to 0.36 pct

March 7, 2016 1:59 PM

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NEW YORK, March 7 The U.S. interest rate that the Federal Reserve targets to conduct its monetary policy fell to 0.36 percent on Friday from 0.37 percent on Thursday, according to Fed data released on Monday.

The average, or effective, fed funds rate traded in a range of 0.34 percent to 0.52 percent with $75 billion in this type of interbank loan changing hands.

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