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.
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