posted at 04:50
Author Name: Mike Bird
Opening Bell, Oct. 31 2014
Good morning! Here are the major stories making headlines and moving markets globally early Friday. Japan Shocked Markets With More QE. In the face of disappointing inflation, Bank of Japan governor Haruhiko Kuroda has hiked Japan's bond purchases, and the Nikkei soared to a six year high. Eurozone inflation rose to 0.4%, taking pressure to ease off the European Central Bank a little, but not much: the core measure of inflation is at its joint-lowest in history. The Russian central bank raised rates by 150 basis points to 9.5% in a gamble that higher rates will halt the ruble's slide against the dollar and the euro. Germany's retail sales dropped 3.2% in September, the worst monthly decline since May 2008. Russia agreed to resume gas deliveries to Ukraine through the winter in an EU-brokered deal reached by the three parties in Brussels on Thursday, an EU source said. Personal income and spending figures from the US are coming, at 8:30 a.m. ET, figures that should give some idea of the economy's strength in September. State-owned Royal Bank of Scotland has set aside £400 million to settle allegations of price-rigging in foreign exchange markets.

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