Asian stocks declined on Greek turmoil

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Source: Forexpros
Asian stocks were sharply lower on Wednesday trading after former Greek PM, Lucas Papademos, reported that there is still a possibility that Greece will exit the single currency union. Adding to the negative mood of Asian shares, a World Bank reduced China's expansion forecast to 8.2% as compared to 8.4% previously expected. Hong Kong's Hang Seng Index lost 1.35% while Australia's S&P/ASX200 and Japan's Nikkei both fell by 1.05% and 1.34%, respectively.


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Wed, 23 May 2012 07:38:44 GMT

IMF calls for further rate cuts in the UK

The IMF reported that persistent weakness of the UK's economy means that officials have to consider more QE measures and further reduction of the interest rates. In case currently implemented budget cutting plan slows growth essentially, the country has to delay it, the IMF added. The easing measures may create inflationary pressure but the IMF suggestion came after UK inflation

Wed, 23 May 2012 08:00:45 GMT

Bank of Japan left interest rate unchanged in line with expectations

The Bank of Japan left the key interest rate unchanged in the range from 0 to 1% and did not announce expansion of asset-purchasing program. The bank stressed that the country's economy is moving towards stage of faster growth pace as public investments and private consumption both rose. However, attention has to be paid to Euro Zone's uncertainty and fluctuations

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