Sizzling euro zone periphery run continues ahead of ECB

People walk past an electronic information board at the London Stock Exchange in the City of LondonBy Marc Jones LONDON (Reuters) – Euro zone periphery bonds and stocks rallied for a third day on Thursday, as investors cast aside their normal caution ahead of policy meetings at the European Central Bank and Bank of England. Neither bank was expected to change interest rates, but markets were on alert for any signs of future moves in monetary stimulus or shifts in the economic outlook. A jump in the euro zone sentiment index to a 29-month high for December set a positive mood for the ECB meeting and helped European stocks overcome an early wobble. The euro was up 0.3 percent at $ 1.3600, but with euro zone inflation bumping along at very low levels, HSBC FX strategist David Bloom expected the ECB to reiterate it remains on guard later – a move that could weaken the currency.

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