Lower rates

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In its widely-anticipated decision, the Fed lowered the key federal funds rate by 0.25 percentage points to 1.75 percent, its lowest in 40 years.

It was the 11th reduction this year, in an effort to breathe life into the ailing economy. The central bank said it saw tentative signs of recovery, but maintained its bias toward economic weakness.

We remain positive on the market outlook in the medium term and continue to focus our attention toward medium size companies with good value.

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