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Stock indices closed slightly higher. Markets benefited from speculation for additional stimulus measures by the European Central Bank (ECB). Reuters reported yesterday that the ECB considering to start buying corporate bonds. The central bank could discuss the possibility of corporate bond buying program at its December meeting.
The Bank of England (BoE) released its minutes of the monetary policy committee meeting today. Two members, Ian McCafferty and Martin Weale, voted for the third consecutive month to raise interest rates to 0.75% from 0.5%.
Seven of the nine MPC members voted to keep interest rate at 0.5%.
The tone of minutes was bearish. The BoE said that there was a slight loss of momentum in September, and it expects that GDP growth in the fourth quarter would slow to 0.8%.
The central bank pointed out that interest rate hike "might leave the economy vulnerable to shocks".
Indexes on the close:
Name Price Change Change %
FTSE 100 6,399.73 +27.40 +0.43%
DAX 8,940.14 +53.18 +0.60%
CAC 40 4,105.09 +23.85 +0.58%
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