(RTTNews) - German stocks saw modest gains in cautious trade on Thursday ahead of the monetary policy announcement from the Bank of England (BoE) later in the day.
The BoE's nine-member monetary policy committee is widely expected to keep the benchmark rate unchanged at 5.25 percent for the sixth consecutive meeting, with investors looking for clues on whether there will be a rate cut at the next meeting in June.
The BoE is also slated to publish its economic analysis as well as inflation projections. Following the publication of the report, policymakers will hold a press conference.
The benchmark DAX was up 44 points, or 0.2 percent, at 18,542 after closing 0.4 percent higher in the previous session.
Automakers traded mostly higher, with Volkswagen gaining half a percent and Mercedes Benz rallying 1.9 percent.
Banks BNP Paribas, Credit Agricole and Societe Generale were seeing modest gains.
