The wait-and-see brigade won the day on Thursday as the Bank of England, US Federal Reserve and eurozone all decided to play it safe and do, well, nothing.
The markets had been soaring on Wednesday following excitement that Fed chief Ben Bernanke, or the BoE would introduce the latest round of quantitative easing.
In the end, both steered clear of any such action, but European markets still closed up for the second day in a row.
The FTSE 100 closed up 64 points, 1.2%, at 5448, while the French, German, Spanish and Italian markets were also up.
At one point the London market was up more than 2% around lunchtime, after the surprise announcement from China that interest rates would be cut, coinciding with New York opening, where the Dow Jones Industrial Average was up 0.5% and rising.
The Chinese decision sent leading miners up, but the biggest riser on the FTSE 100 was Royal Bank of Scotland, which had a second successive day of increases.
The bank closed up 11.2p, 5.3%, at 219.1p and was followed closely by fashion house Burberry, up 68p, 5.1%, at £13.56 after a ratings upgrade from Credit Suisse.
Glencore, up 13.5p, 3.9%, at 362.3p, and Xstrata, up 28.2p, 3%, at 968.8p, appeared to benefit from the Qatar sovereign wealth fund increasing its stake in the latter, again.
The biggest fallers were precious metal miners Randgold, down 335p, 5.6%, at £58.62 and Fresnillo, down 30p, 2%, at £14.30, but it was hardly surprising for the former, after gold futures fell below $1,600 an ounce.
Few companies had much to shout about, but one which managed to get shouted at was security firm G4S.
The company, up 1p, 0.3%, at 277p, held its AGM in the heart of the City of London, and drew around 70 angry protesters.
They wanted to raise awareness of the 773 complaints of abuse made against the company when it used to be in charge of deporting people from the UK for the Government.
In particular, they had questions over the death of Jimmy Mubenga, an Angolan asylum seeker who died after he was restrained by G4S guards.
Whether anyone inside the AGM raised similar concerns or questions may never be known, after the company decided to ban journalists from attending, despite earlier suggestions to the contrary.
However, management were keen to let the waiting press know the remuneration resolution passed by 98.8% - although only 63.5% of potential votes were cast.
The remaining resolution votes for the Anglo-Danish firm can't come out officially because the Denmark stock exchange had closed.
