South Korea cut its interest rate

Note: This section contains information in English only.
Source: Bloomberg
South Korea followed Brazil with interest rate cut as economies around the globe are trying to protect themselves from risks of a deeper economic slowdown by austerity measures in Eurozone and China's weakness. Governor Kim Choong Soo lowered the benchmark 7-day repurchase rate from 3% to 2.75%. Brazil's Selic rate was also decreased by 0.25 percentage points to a historic low 7.25%.  
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Thu, 11 Oct 2012 06:41:06 GMT

Dollar Index touched 1-month high after S&P cut Spain's rating

The Dollar Index reached the highest level in one month as Standard & Poor's downgraded Spain's credit rating to one notch above junk, spurring demand for the U.S. Dollar as a safe have asset. The Index rose to 80.205, the highest level since September 11. It climbed 0.1% to 80.012 at 6:21 a.m. in London. The Euro fell versus most

Thu, 11 Oct 2012 06:19:06 GMT

S&P cut Spain's credit rating

Standard & Poor's cut Spain's debt rating to one notch above junk, citing increasing political and economic risks as the nation's government considers a second bailout. Spain was downgraded 2 levels from BBB+ to BBB-. The downgrade comes with a negative outlook to the long-term rating. Besides, S&P cut the short-term sovereign level from A-2 to A-3.

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