FACTBOX: Fed intermeeting rate changes since 1994

(Reuters) - The Federal Reserve on Tuesday slashed the benchmark federal funds target rate in a surprise intermeeting decision as it said the economic outlook was weakening and broader financial market conditions continued to deteriorate.

Rate changes between regularly scheduled Federal Open Market Committee meetings are rare, but they have occurred in the past during market turmoil.

The following is a chronology of the Fed rate changes that occurred during intermeeting periods since 1994.

2008

January 22 - The FOMC cut the federal funds target rate by 75 basis points to 3.5 percent, the lowest level since September 2005.

It also cut the discount rate by three quarters percentage point to 4.00 percent.

2007

August 17 - The FOMC left the federal funds rate target unchanged, but cut the discount rate by 50 basis points to 5.75 percent in a bid to provide easier funding to banks.

2001