Friday, 1 November 2013

BoJ keeps monetary policy unchanged, eurozone inflation falls

The Bank of Japan announced no new easing measures after its monetary policy meeting on Thursday.

The European Central Bank, though, could yet do so after reports on Thursday showed that inflation in the euro area fell to 0.7 percent in October, the lowest since November 2009, and unemployment stayed unchanged at a record high of 12.2 percent in September.

Also, data from the eurozone's largest economy, Germany, on Thursday were negative. Retail sales fell 0.4 percent in September while GfK's forward-looking consumer confidence index fell to 7.0 in November from 7.1 in October.

In the UK, GfK also reported that its consumer confidence index fell to -11 in October from -10 in September. However, Nationwide reported that house prices rose 5.8 percent in October from a year earlier, the biggest annual increase since July 2010.

In the US, the MNI Chicago Report business barometer jumped to 65.9 in October from 55.7 in September, the biggest monthly increase since July 1983.

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