Asian Markets Plummeted as World Bank Revised Lower Global Economic Outlook

Weakness in US markets carried forward to the Asian session after the World Bank revised lower the global economic forecasts. Disappointments in Japanese data exacerbated the decline. The RBNZ’s statement after the monetary meeting turned out to be more dovish than expected. Policymakers left the OCR unchanged and signaled it will stay where it is until 3Q14.

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Asian Markets Plummeted as World Bank Revised Lower Global Economic Outlook