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The Bank of England confirmed rates would remain at 0.5% and no change to the size of the monthly bond buying programme, in line with analysts’ expectations.
The ECB also kept rates at the new all-time low of 0.5% while some dealers expected president Mario Draghi to announce negative interest rates for lending institutions – when this wasn’t delivered stocks including the FTSE 100 drifted lower.
In the US, the Dow Jones opened 30 points lower at 14,930, after today’s jobless claims were broadly in line with expectations. The data still had a negative impact on US index futures after yesterday’s ADP employment figures were weaker than estimated.
Traders and investors are now looking to Friday’s non–farm payrolls report for a strong number; if this week’s jobs data proves to be a reliable barometer stocks could be in for more declines.