TOPWRAP 7-China cuts rates, Fed and others set to follow

Newswire

* China eases rates 0.27 pct point, Norway cuts 1/2 point * Fed set to cut by at least 1/2 point * Bank of Japan considering rate cut - source * IMF, EU agree $25.1 bln rescue package for Hungary * European shares up 5 pct, Wall St set for modest rise (For full crisis coverage, double click on [nCRISIS]) (Adds comment from former NBER head, EU's Barroso) By Burton Frierson and Elizabeth Piper NEW YORK/LONDON, Oct 29 (Reuters) - China cut its interest rate for the third time in ...

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