China lowers its cash reserve ratio by 50 basis points effective February 24, to 20.5
percent for large commercial banks which will ease short‐term credit crunch and is
estimated to release CNY 400 billion in capital into the market.
Euro‐area finance ministers reached agreement on a second bailout package worth 130
billion Euros for Greece which includes a 53.5 percent write‐down for investors in
Greek bonds.
UK Housing prices jumped by 1.4% during January as compared to 0.4% jump in last
month.
Standard and poor’s affirmed Japan’s sovereign‐debt rating at AA‐ while maintaining a
negative outlook and warning that a downgrade is likely if medium‐term growth
prospects weaken.
