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ECB announcement prompts market rise

8th December 2011

The European Central Bank (ECB) has reduced its interest rates by 25 basis points leading to a surge in UK markets.

According to Proactive Investors, the FTSE 100 has risen by 0.2 per cent this afternoon (December 8th) to stand at 5,559 as of 14:37 GMT.

The ECB is now charging one per cent for all borrowings following this latest announcement, although some analysts had predicted a cut of as much as 50 basis points earlier this month.

It also announced requirements for long-term loans of up to 36 months to financial institutions are to be relaxed somewhat in a bid to improve stability in the marketplace.

"With so much focus on the EU Summit and the ECB decision today, the market is likely to be headline-driven with investors reacting to anything out of the euro region that might help them to gauge progress," commented chief market strategist at City Index Joshua Raymond.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.