RTRS: U.S. fed funds rate falls to lowest in a month
(Reuters) - The U.S. federal funds rate , which banks charge each other to borrow each other's excess reserves, averaged 0.08 percent on Thursday, the lowest level in a month, Fed data released early Friday showed.
This compared with Wednesday's 0.13 percent which had been the level for 13 consecutive days.
The fed funds rate, which the Federal Reserve targets to achieve its rate objective, traded in a range of 0.02 percent to 0.3125 percent, compared with Wednesday's 0.05 percent to 0.3400 percent range. (Reporting by Richard Leong; Editing by Chizu Nomiyama)
