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Commodities climb to three-month high after Japan’s policy shift

Posted on 23 January 2013

Commodities rose to a three-month high after the Bank of Japan (8301) said it will introduce open-ended asset purchases from 2014, boosting speculation that a revival of the economy will raise demand for natural resources.
The Standard & Poor’s GSCI Index of 24 raw materials rose as much as 0.6 percent to 664.62 today, the most since Oct. 19. Natural gas jumped 2.1 percent and soybeans gained 1.2 percent. Bank of Japan Governor Masaaki Shirakawa and six of nine board members voted for a 2 percent inflation target, a pace not sustained in Japan since the early 1990s, which is aimed at reviving the economy………………………………………..Full Article: Source


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