Posted on 11/05/2009 5:30:37 AM PST by blam
Europe Stocks Trim Losses After ECB, BoE Decisions
Thu Nov 5, 2009 8:04am EST
By Blaise Robinson
PARIS, Nov 5 (Reuters) - European stocks were down 0.3 percent by early afternoon on Thursday, with banks and miners among the biggest losers.
Yet shares trimmed their losses after both the Bank of England and the European Central Bank kept rates unchanged.
The BoE kept rates on hold and said it would expand its quantitative easing programme by 25 billion pounds ($41 billion), while the ECB kept interest rates at 1 percent as expected.
The two central banks' decisions came a day after the U.S. Federal Reserve said it would keep interest rates near zero for an extended period.
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(Excerpt) Read more at reuters.com ...
The Bank of England has expanded its radical programme of printing money by a further £25bn today as the fight against the deepest downturn for decades is stepped up.
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