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Morning briefing: Ireland's credit rating may be lowered again

bankofjapan.JPG

The Bank of Japan is under pressure to take action as evidence mounts that the strong yen and slowing overseas growth are undermining what was already a fragile economic recovery.

(Photo Credit: Reuters/Kim Kyung-Hoon)

1. Japan's central bank cut key interest rates further, to a range of zero to 0.1 percent, as it tries to stimulate the faltering economy.

2. Moody's on Tuesday warned that it may downgrade Ireland's credit rating again due to the high costs of bailing out its banks and a weak economic recovery.

3. Britain's services sector picked up the pace of activity in September.

4. The lawyer representing Jerome Kerviel, the Societe Generale trader whose rogue dealings almost brought the French bank to ruins, said on Tuesday that he would appeal a Paris court decision to sentence Kerviel to five years in prison.

5.The head of the euro-area finance ministers, Luxembourg's Jean-Claude Juncker, said Chinese and European leaders remained divergent on the Chinese currency.

By Ariana Eunjung Cha  | October 5, 2010; 10:34 AM ET
Categories:  *Morning briefing  
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