Stock indices traded higher ahead of the release of the European Central Bank's (ECB) interest rate decision. Analysts expect the central bank to keep its monetary policy unchanged.

Market participants were disappointed in December because they hoped for more stimulus measures by the ECB. The ECB kept its interest rate unchanged at 0.05%, but lowered its deposit rate to -0.3% from -0.2%. The asset-buying programme will be extended until the end of March 2017. Earlier, the asset buying programme was intended to run until September 2016. The volume of the monthly purchases remained unchanged.

International Monetary Fund (IMF) Managing Director Christine Lagarde said at the World Economic Forum in Davos on Wednesday that risks to the global economic growth are bigger than previously expected. According to Lagarde, the risks are falling oil prices, the slowdown in the Chinese economy and diverging monetary policies.

Current figures:

Name Price Change Change %

FTSE 100 5,699.28 +25.70 +0.45 %

DAX 9,447.46 +55.82 +0.59 %

CAC 40 4,157.33 +32.38 +0.78 %