Surprising Rate Cut Tests Newswires Strengths


WASHINGTON, DC--The Oct. 16 surprise cut in interest rates by the Federal Reserve Board tested the mettle of the major financial newswires. With the Fed keeping a level playing field in terms of the timing of the announcement, the news services faced the challenge of how to distinguish themselves.

While the mainstream wires played it safe, one of the niche providers, Market News Service (MNS), which specialises in its coverage of the Fed, got the chance to demonstrate its value.

Tony Mace, man

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