FX.co ★ DAX Inches Higher Ahead Of BoE Meeting

German stocks recorded moderate increases during a cautious trading session on Thursday as the market eagerly awaits the Bank of England (BoE)'s upcoming monetary policy announcement.

The nine-member monetary policy committee of the BoE is widely projected to maintain the standard rate at 5.25 percent, a figure that has remained unchanged for six successive meetings. Investors are poised to interpret any signals that may suggest a potential rate cut in their June meeting.

The BoE schedule also includes the publication of their economic analysis and inflation forecasts. After releasing the said report, a press conference involving the policymakers will take place.

The benchmark German stock index, DAX, increased by 44 points or 0.2 percent, creating a total of 18,542 points following a 0.4 percent rise in the previous trading session.

Automobile companies mostly observed an upward trend, with Volkswagen shares increasing by half a percent, while Mercedes Benz shares saw a 1.9 percent surge.

In the banking sector, shares of BNP Paribas, Credit Agricole, and Societe Generale experienced moderate improvements.