Hungary’s Foreign-Credit Rating Cut
Moody’s Investors Service has reduced Hungary’s foreign-credit rating by one level to A3 based on growing concerns over the country’s ability to service its debt. The A3 rating is considered to be a negative outlook and comes one day after the International Monetary Fund (IMF) approved emergency loans. More
China’s Growth Expected Fall to Lowest Level in Almost Twenty Years
Falling global demand for Chinese exports threatens China’s growth which is expected to decline in the next year after averaging 9.9 percent over the past three decades. More
South Korea Cuts Interest Rates to 4%
The Bank of Korea lowered interest rates for the third time in four weeks and signaled it’s ready to act again to prevent the economy from sinking into the first recession in a decade. The nation’s shares and currency rose. As recession fears grow, South Korea trimmed 25 basis points from the official bank rate, reducing the key lending rate to 4.0%. More
Crude Oil Rises on Interest Rate Cut Speculation
Speculation that the US will reduce interest rates supported oil futures today with December-delivery futures gaining 44 cents (0.7%) to $61.21 a barrel. More
