The US Federal Reserve pushed forward with an interest rate cut as inflation fears continue to take a backseat to concerns about a stalling labour market.
It came despite the US government shutdown, nearing its one-month mark, which left central bankers "flying blind" about the state of job market, economists said, because of a delay in official data.
The US central bank said on Wednesday it was lowering the target for its key lending rate by 0.25 percentage points, putting it in a range of 3.75% to 4%.
The Fed last month cut interest rates for the first time since last December. Economists expected the move to jump-start a series of additional reductions, easing borrowing costs across the US.
A slowdown in job hiring prompted the Fed to restart its rate cutting cycle in September. Fed chairman Jerome Powell cited "downside risks" to unemployment.
