Markets recoil as major central banks ease policies

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The Bank of England (BoE), European Central Bank (ECB) and People's Bank of China (PBoC) today (July 5) all announced monetary policy steps designed to boost economic performance. Eurozone stock markets fell following the news.

The BoE left its benchmark interest rate untouched at 0.5% but increased the size of the asset purchase programme by £50 billion ($78 billion), bringing the scheme's total worth to £375 billion.

The ECB lowered its key rates by 25 basis points, effective on July 11. This

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