Moody’s Downgrades Ireland Moody’s cut Ireland’s credit rating, citing a rising debt burden, a weak growth outlook and the high cost of rebuilding a shattered banking system (WSJ)
PBOC Says Price Pressures Ease Inflationary pressures have eased but uncertainties remain, People’s Bank of China Vice Governor Du Jinfu said. (WSJ)
Hungary Resists New Budget Cuts Despite Pressure — Markets in Budapest were rattled after the government insisted that it would not impose further austerity measures this year despite pressure from its international creditors. (NYT)
Morgan Stanley fcasts China economy to expand 10% Hong Kong-based Morgan Stanley’s chief Asia economist, Wang Qing said he was relatively optimistic about China’s economic outlook and the world’s third largest economy was expected to expand by more than 10 percent this year. (CD)
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