By Claudia Carpenter Oct. 8 (Bloomberg) -- Copper pared declines and aluminum rebounded after central banks in the U.S. and Europe slashed interest rates to revive the global economy. Copper for delivery in three months declined $190, or 3.3 percent, to $5,440 a ton as of 12:13 p.m. on the London Metal Exchange after earlier falling as much as 7.2 percent. Aluminum rose $17 to $2,310 a ton, rebounding from a drop of as much as 2.8 percent. The Federal Reserve, European Central Bank, Bank of England and central banks of Canada, Sweden and Switzerland are lowering rates, the Fed said in a statement. ``The knee jerk reaction would be upward for commodities and I think that would be a selling opportunity,'' Robin Bhar, an analyst at Calyon in London, said before the rate cuts. ``The implication of cutting rates is that economies are very weak so I would be very skeptical gains could be sustained.'' To contact the reporter on this story: Claudia Carpenter in London at ccarpenter2@bloomberg.net or ccarpenter2@bloomberg.net

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