As was expected the US Federal Reserve Bank (Fed) today in the course of its rotational meeting lowered the US key interest rate by another 50 basis points to 3.00%. Thus, the current rate is as low as it was for the last time in the middle of the year 2005. This latest lowering was preceded by another dramatic lowering by 75 basis points following an extraordinary meeting last week (we reported on this). The Federal Reserve today did not rule out further reductions of the key interest rate.