U.S. fed funds rate falls to lowest in a month
NEW YORK, April 1 (Reuters) - The U.S. federal funds rate , which banks charge each other to borrow their excess reserves, averaged 0.06 percent on Tuesday, down from 0.12 percent on Monday, Fed data released early Tuesday showed.
This was the lowest average or effective fed funds rate since Feb. 27.
The fed funds rate, which the Federal Reserve targets to achieve its rate objective, traded in a range of 0.03 percent to 0.3125 percent, compared with 0.05 percent to 0.3125 percent on Monday.
(Reporting by Richard Leong)
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