Euro Zone's M3 money supply advanced more than expected in January

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Source: Forexpros
Euro Zone's M3 money supply increased more than initially projected last month, reported the ECB. The M3 money supply jumped by 2.5% on a yearly basis in January as compared to a 1.5% growth in December. Economists expected the M3 money supply to rise by 1.8% last month. Meanwhile, private sector loans increased by 1.1% on an annual basis, being almost in line with a 1.2% gain expected.
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Tue, 28 Feb 2012 09:45:10 GMT

S&P cut Greek credit rating to selective default

Standard and Poor's downgraded Greece's credit rating to selective default after the country agreed on the 70% debt reduction with private bondholders. The rating agency cited that terms of the deal escalated concerns over Greece's inability to repay its debts. However, S&P announced it would increase Greece's rating to CCC after the debt swap is complete.

Tue, 28 Feb 2012 10:00:27 GMT

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