China: China Joins ECB in Adding Stimulus as Fed Scales Back
The People’s Bank of China will inject 500 billion yuan (USD 81.0 billion) into the country’s largest banks. In this way, China joins the European counterparts in boosting liquidity in order to stimulate the economy while the US reduces stimulus. (Source: Bloomberg)
Russia:Authorities urge people to not to panic amid the falling rouble
The Russian Finance Minister urged people to not to panic in sight of the weakening currency. On Tuesday, the rouble dropped to an all-time low of 38.71 per USD. There are concerns that the weak rouble might increase the already high inflation rate. (Source: BBC)
Venezuela: Venezuela Grade Cut as S&P Sees One-in-Two Default Chance
Venezuela had its credit rating lowered by Standard & Poor’s (XOP), which cited the country’s slumping economy and soaring inflation. S&P cut Venezuela’s long-term rating by one level to CCC+, seven levels below investment grade, from B-. The outlook is negative, S&P said yesterday in a statement.
Japan: Government to lower economic assessment
The government is considering lowering its assessment of the economy in the monthly report for September, as consumption has tumbled due to the impact of bad weather, such as a typhoon and heavy rain. (Source: The Japan Times)
India: Border rows, railways likely topics of China-India talks
Chinese President Xi Jinping visited India and will hold talks with Indian Prime Minister Nerenda Modi as Asia’s two powerhouses are ready to take further steps to boost commercial ties. China has pledged to invest billions of dollars in Indian railways, industrial parks and roads, but ties between the nuclear-armed nations have long been held back by distrust, mostly over their contested border.