mpc: 3
Equity prices had increased in all the major markets. The FTSE All-Share index was 3% higher
on the month, rising more than most major international equity markets in common currency terms.
That and the interest rate movements seemed to be consistent with the pattern of economic news over
the past month, which had been rather more positive (relative to expectations) in the United Kingdom
than in the United States or the euro area.
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