• The OECD cut its euro zone growth forecast to .3% in 2012 from 2%. The organization called for growth-focused measures from individual European nations, including lower interest rate policies, and to cut government borrowing to allow for flexibility in dealing with near-term recession. Sounds difficult. From the Financial Times.
• Japan intervened to halt the rise of the yen against the U.S. dollar. Finance minister Azumi said that further intervention is on the table. The nation does not want to deal with an overly strong currency in a fragile economic environment. The U.S. dollar initially soared 4% versus the yen on the action. From Reuters News.
• MF Global has a tentative plan to file for bankruptcy protection. Subsequent to that, Interactive Brokers would make an initial offer of about $1 billion in a court-supervised auction. From the Wall Street Journal.