ABC Money
Home

Japan’s credit rating cut to AA-


Published :
Fri, 28 Jan 2011 11:49
By : financemarkets.co.uk
Print this Story


AddThis Social Bookmark Button


”Japan’s

Standard & Poor’s (S&P) has today cut Japan’s credit rating from AA to AA-, the first time in nine years such measures have been taken.


The credit rating agency cited the country’s mounting debt worries for the downgrade.


Japan’s debt currently stands at almost twice the country’s annual economic output – this compares with 136.8% for Greece and 112.7%.


Japanese debt is the highest of any industrialised nation.


In a statement, S&P said: “The downgrade reflects our appraisal that Japan’s government debt ratios – already among the highest for rated sovereigns – will continue to rise further than we envisaged and will peak in the mid 2020s.”


Following the announcement, the yen fell against the dollar to 83.20 yen from 82.12 yen.


In related news today, Japanese exports rose for the second consecutive month in December, due to strong demand from China.


Exports grew 13% in December on an annual basis – higher than the 9.1% growth reported in November.


Exports to China rose by 20.1%, while those to the US grew 16.5%.


Earlier this week, official figures revealed Japanese core consumer prices fell 0.5% in December compared with a year ago – representing the 22nd consecutive monthly decline that the economy has been in deflation.


A short period of deflation (where prices fall rather than increase) could be a serious threat to the economy because it deters consumers and businesses from spending in expectation of falling prices.






Share on



Comment on this Article
Comment:
Title:
Name:
Please Enter
 
Here
  

 Search News

 Look For
Business
Credit cards
Finance
Loans
Money
Mortgages

 
 Stock Quotes *
SYMBOL
LAST
CHANGE
DOW JONES
10340.69
-107.24 ( -1.03 %)
NASDAQ
2792.28
22.57 ( 0.81 %)
FTSE 100
5741.15
38.78 ( 0.68 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
STANDARD CHARTERED ( 11:35am )
1559.00
70.00 ( 4.76 %)
WOLSELEY PLC ( 11:35am )
2250.00
70.00 ( 3.20 %)
CARNIVAL ( 11:35am )
2017.00
46.00 ( 2.42 %)
LAND SECURITIES GROUP ( 11:35am )
679.50
36.50 ( 5.63 %)
WHITBREAD ( 11:35am )
1662.99
33.99 ( 2.09 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
3M COMPANY ( 12:34pm )
85.78
0.71 ( 0.83 %)
BOEING CO ( 12:34pm )
75.70
0.64 ( 0.85 %)
JP MORGAN CHASE CO ( 12:34pm )
37.03
0.49 ( 1.33 %)
IBM ( 12:34pm )
181.50
0.43 ( 0.24 %)
WAL MART STORES ( 12:34pm )
60.44
0.43 ( 0.72 %)

SYMBOL ( 2012-01-19 )
LAST
CHANGE
F5 NETWORKS INC ( 12:11pm )
122.38
13.92 ( 11.80 %)
ICO GLOBAL COMM CL A ( 8:01pm )
99999999.99
9.37 ( 366.02 %)
PRICELINECOM INC ( 12:23pm )
525.40
6.57 ( 1.26 %)
AMAZONCOM INC ( 12:04pm )
195.65
6.21 ( 3.25 %)
MILLICOM INTERNATIONAL CELLULAR SA ( 4:00pm )
110.18
4.82 ( 4.43 %)

Gainers & Losers
Dow Jones
Euro Stoxx 50
FTSE 100
FTSE 250
FTSE AIM
FTSE ALL
Nasdaq

 Portfolio Manager

You must log in to access this area of the site. If you are not a registered user click here to sign up for instant access!


 Finance Explained

Money making ideas

Save money

Money management
Savings accounts
Investing money
Share dealing
Stock broker
Forex currency trading
Pension plans
Functions of Money

(c) 2007 viploan.co.uk, All Rights Reserved
*viploan.co.uk does not guarantee the accuracy of any share prices or stock quotations displayed. These are not real time quotes; all are delayed by at least twenty minutes and are for information purposes only.