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European Stock Markets Close Higher After Bank of England and Federal Reserve Decisions
European stock markets closed higher on Thursday, September 18, as traders assessed the latest monetary policy updates from the Bank of England and the US Federal Reserve.
The Stoxx Europe 600 index rose 4.34 points, or 0.79%, to close at 554.97, with most sectors posting positive performance.
The German DAX index closed the session up 311.78 points, or 1.33%, to 23,670.96.
The UK's FTSE 100 index rose 19.74 points, or 0.21%, to close at 9,228.11.
The French CAC 40 index rose 67.63 points, or 0.87%, to close at 7,854.61.
The Bank of England kept its key interest rate steady at 4% on Thursday, a move widely expected by many economists.
The pound fell by about 0.6% against the US dollar following the central bank's decision. Meanwhile, UK government borrowing costs rose, with the yield on benchmark 10-year government bonds rising by four basis points.
In a press conference following the decision, comments by Federal Reserve Chairman Jerome Powell disappointed investors who had expected the central bank to continue cutting interest rates this year. Powell described the latest cut as "risk management."
