TODAY’S TOP ARTICLES – 19 MAY 2014

Ireland: Moody’s Upgrades Ireland’s Credit Rating by Two Notches
Credit rating agency Moody’s has upgraded Ireland’s credit rating by two notches to Baa1 from Baa3. The agency explained its decision based on Ireland’s positive economic growth momentum and improved debt scenario. (Source: The Irish Times)

Eurozone: European Central Bank Expected to Lower Interest Rates
Analysts expect that at its next meeting on 15 June, the European Central Bank (ECB) will take several measures to deal with the currently strong Euro and low inflation. According to the Spiegel, an interest rate cut from 0.25% to 0.15% is expected. Furthermore, the Bank is expected to introduce negative deposit rates of minus 0.1% for credit institutions. With both measures, the ECB wants to boost faltering bank lending. (Source: Spiegel Online, Language: German)

Switzerland: Swiss Voters Reject $25 Minimum Wage
This weekend, Swiss citizens rejected a proposal to introduce what would have been the highest minimum wage in the world. According to CNN, the Swiss government and business leaders had warned that the initiative would destroy jobs, hurt lower skilled employees and make it harder for young people and others to enter the workforce. (Source: CNN)

Thailand: Thailand’s Unrest Wreaks Greater Damage Than Forecast: Economy
Latest data show that the Thai economy contracted 0.6% in the first quarter. This is a sign that the political turmoil is dragging down the economy. The data raises pressure on leaders from both sides to find a solution, although no election date has yet been agreed on to create a new government. (Source: Bloomberg)

United States: Fischer,Brainard to Push for More Activist Fed
The two new nominees to the Federal Reserve’s Board of Governors are expected to push for an expanded Fed role in managing the U.S. economy. (Source: Reuters)

For the latest economic indicators from around the world, please visit us at Focus-Economics.com.

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