FXstreet.com (Barcelona) - The Federal Reserve's Monetary Policy Committee has decided to cut interest rates by 25 basis points to 4.25%, as widely expected after their monetary policy meeting.

The decision, which has been approved by 9 votes against 1, completes the third consecutive rate cut by the Federal Reserve since September.

The Federal Reserve has abandoned the image of growth and inflation risks roughly balanced, and decided to act in order to keep the economy growing, the Fed has affirmed that Incoming information suggests that economic growth is slowing, affected by the housing slump and weaker business and consumer spending.

The statement affirms that this action, together with the previous ones, will help promote moderate growth, thus further rate cuts are, for the moment, discarded.