TODAY’S TOP ARTICLES – 13 JUN 2014

United States: Start the Countdown: Fed to Start Raising Rates in a Year — WSJ Survey
According to the median estimate of a survey of 48 economists conduced by the Wall Street Journal, the Federal Reserve will likely begin raising interest rates at a gradual pace in June of 2015 after leaving them near zero for an unprecedented six-and-a-half years. (Source: WSJ)

United Kingdom: Bank of England Hints at Possible Rate Rise This Year
The governor of the Bank of England, Mark Carney, has signaled that interest rates may rise this year. Mr. Carney said a rate rise, “could happen sooner than markets currently expect.” (Source: BBC News)

Japan: Japan to Cut Corp Tax Rate Below 30 Percent Over Few Years: Abe
Japan’s PM Shinzo Abe has announced on 13 June that he intends to cut the corporate tax below 30% over a few years in order to boost the country’s industrial competitiveness. The current level of corporate tax rate is 36%, one of the highest ones in the industrialized world. (Source: Reuters)

Euro area: Banks Reduce Short-Term Deposits at ECB Amid Negative Deposit Rates
Only one day after the implementation of a negative deposit rate by the European Central Bank (ECB), commercial banks reduced their short-term deposits at the ECB. According to the ECB, these deposits shrank from EUR 25.4 million to EUR 13.6 million, which marked the lowest level since February 2011. (Source: Spiegel Online, Language: German)

Eastern Europe: East Europe Leaders Urge EU Unity to Counter Russia Political leaders from Eastern European countries such as Romania and Slovakia have urged the European Union to confront Russian with a united stance.(Source: Bloomberg)

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

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