CAC 40 Gains Ahead Of ECB, BoE Meetings
(RTTNews) - French stocks were sharply higher on Thursday after the U.S. Federal Reserve said that "disinflationary process has started" but "ongoing increases" in rates will be needed to curb price pressures.
Euro zone bond yields fell, and the dollar hit its lowest level in over nine months as Fed Chair Jerome Powell's dovish comments in a press conference stoked expectation that the Fed might start cutting rates before 2024.
The European Central Bank and the Bank of England will announce their monetary policy decisions later in the day.
Both are expected to hike interest rates by 50 basis points as inflation remains elevated.
The benchmark CAC 40 was up 77 points, or 1.1 percent, at 7,154 after closing marginally lower in the previous session.
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