LONDON: Stocks rose to near lifetime highs on Thursday after the European Central Bank pledged to keep interest rates at record lows for even longer to help the euro zone's struggling economy recover from COVID.
The ECB said that long periods of low inflation would require"especially forceful or persistent" policy support, a hint that stimulus might be kept in place for longer than many had predicted. "The Delta variant has hit risk appetite, it's summer markets and we saw some positioning squeezes on long-growth, short-Treasuries. All those have been factors," Gallo said.
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