The European Central Bank left interest rates unchanged for a fourth straight meeting against a backdrop of near-target inflation and sturdier economic activity in the euro zone.
In the UK, where recent data have shown the economy and labor market are on a downward trajectory, the Bank of England reduced rates to the lowest in almost three years. While the policy committee said current evidence suggests borrowing costs will continue to come down next year, it cautioned in new language that decisions on future cuts will be finely balanced as the central bank edges toward the neutral interest rate.