Mervyn King, governor of the Bank of England, said he is keeping an "open mind" on further quantitative easing as he offered improved forecasts for economic growth. Other central bank leaders, however, indicated that they are about to start withdrawing stimulus efforts. Australia, Norway and other central banks have started raising rates. The US Federal Reserve said it will start to wind down its programme for purchasing mortgage-backed debt. Jean-Claude Trichet, president of the European Central Bank, signalled that some of the bank's long-term financing auctions are about to end.

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