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Morning briefing: Bank of Japan downgrades economic outlook

1. Japan's central bank downgraded its assessment of the economy in October because of the impact on exporters of a strong yen and amid mounting global uncertainty over the economy. The country's ruling Democratic Party urged the cabinet on Wednesday to consider more stimulus money.

2. The European Union and South Korea's free trade pact, which seeks to cut billions of dollars in duties, should go into effect July 1, 2011 although it still needs approval of the EU parliament.

3. The International Monetary Fund meetings this week are likely to be dominated by concerns that efforts by governments in Asia and Latin America to restrain their currencies could provoke protectionism.

By Ariana Eunjung Cha  | October 6, 2010; 6:05 AM ET
Categories:  *Morning briefing  
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Next: National Retail Federation releases holiday forecast

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