Swedish central banks to cut key rate on economic downturn

Note: This section contains information in English only.
Source: Marketwatch

The central bank of Sweden, the Risksbank, reported it plans to decrease the repo rate to 1.75%, down by 0.25% citing the deepening recession in the Euro Zone that impacts country's exports. The bank also announced when the situation stabilizes the rate will be gradually raised. Moreover, Risksbank cut the GDP growth forecast to 1.3% next year and to 2.3% in 2013.

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Tue, 20 Dec 2011 12:41:47 GMT

Euro appreciates on German business confidence

17-nation currency recovered on Tuesday after European finance ministers agreed to provide extra funding worth $195 bn through IMF. Euro appreciation was also fuelled by unexpected rise in German business confidence. European common currency gained 0.3% against US dollar, reaching $1.3040. Currently EUR/USD is trading at $1.3079.

Tue, 20 Dec 2011 12:40:22 GMT

Japan to buy Chinese bonds

Japan is considering possible acquisitions of Chinese sovereign bonds. Japan is willing to diversify its foreign-exchange assets, said Jun Azumi, Japanese FM. Azumi considers investing in China's debt as mutually beneficial deal. Japanese PM Yoshihiko Noda claimed that Japan should be able to invest in second-biggest economy given that China is purchasing Japan's debt. 

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