With high real rates acting as a drag on the economy, the Fed would have an incentive to cut its target.

The Fed cut its target for the federal funds rate, which banks charge one another for overnight loans, to 4.5 percent from 5 percent.

That day, Mr. Neff cut his target to a range of $37 to $48.

The Fed has cut its target for the federal-funds rate five times in the past three months, to 6.75%.

Democrats planned to amend their bill to cut its final target to $4.55 an hour, but they still appeared headed for a confrontation with the President.

Nokia cut its target for its group operating profit margin for the next one to two years to 15 percent from an earlier 17 percent.

Instead, the central bank cut its target for the federal funds rate by a widely anticipated half a point, to 5 percent.

The turnaround came after the Federal Reserve cut its target for the Federal funds rate to 3.75 percent from 4 percent.

TfL cut their target for step-free access again this year: to 26 per cent of stations by 2017/2018.

Finally, it cut the U-boats' target to an impossible tenth, forcing on them the alternative of diving or the risk of being trampled under.