Tuesday, 23 August 2011

Another victim of rate cut

Japan has emerged as the latest victim for rate cut. Moody's Investors Service on Wednesday cut the rating on Japan's government debt by one notch to Aa3, blaming large budget deficits and the build-up of debt since the 2009 global recession. What a way to spoil the relief rally.

We guess next victim should be an European country.


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