The US Federal Reserve has slashed its key interest rate from 1% to a range of between zero and 0.25% as it battles the country's recession.
The central bank's key rate, the target rate for overnight federal funds, is at its lowest since records began in 1954.
In its statement, the Federal Reserve warned that "the outlook for economic activity has weakened further".
It predicted that rates would stay at the current exceptionally low levels "for some time".
The rate has been cut drastically by the Federal Reserve from the 5.25% where it stood in September 2007.