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Moody's downgrades Western Australian state

Moody's downgrades Western Australian State to AA2 from AA1, changing the outlook from negative to stable.

Japan, Australia stocks lower, rest of Asia closed

Most major Asian markets traded largely subdued amid a calm start to a new week, as the Chinese markets remain closed for a week-long New Year celebration.
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BOJ's Iwata: BOJ needs to be accountable if it doesn't meet 2% inflation

BOJ Deputy Governor Iwata has crossed the wires, noting that the Central Bank needs to be accountable if it doesn't meet the 2% inflation target, adding that inflation trend is steadily improving.
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