Bank of Japan Cuts Interest Rates
In its first rate cut in seven years, the Bank of Japan lowered its main interest rate to 0.3% from 0.5%. Japan – which already has the lowest interest rates of the world’s major economies – was acting in response to recent rate reductions in many of the other industrialized nations.
Speculation Rises for Eurozone Interest Rate Cut
October inflation fell to 3.2 percent for October making the chance of an interest rate cut more likely when the European Central Bank meets next week.
Canadian Dollar Struggles to Worst Month Since 1950
As commodities continue to fall, the loonie is dragged down as well losing 13 percent of its value for the month of October alone.
Gold and Oil Headed for Worst Month since Early 80s
Both gold and oil are set to register their worst month since 1983. For oil, the threat of a global recession reducing demand for energy has brought down the price of crude, while for gold, the surging U.S. dollar is the culprit.
See the article on oil pricing
See the article on gold pricing
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by Scott Boyd (see all)
- Japan’s Demographic Trap - 25 June 2012
- Officials Talk Openly of Greek Euro Exit - 16 May 2012
- Greek Voters Prepare to Roll the Dice - 15 May 2012