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CAC 40 Declines As Investors Temper Rate Cut Bets
(RTTNews) - French stocks traded lower on Monday after New York Fed chief Williams said that a March cut seems 'premature', tempering market speculation about imminent rate cuts.
Also, Fed Bank of Chicago President Austan Goolsbee said on Sunday in an interview on CBS that it's too early to declare victory over inflation fight, and interest-rate decisions would depend on incoming data.
Closer home, European Central Bank (ECB) Governing Council Joachim said Friday that the ECB has probably concluded its hiking cycle, but it's still too early to consider lower borrowing costs.
Fellow member Madis Muller also indicated that it's too early to talk about rate cuts in the near term.
ECB members Philip Lane and Isabel Schnabel are due to speak later in the session, along with Bank of England Deputy Governor Ben Broadbent.
The benchmark CAC 40 was down 27 points, or 0.4 percent, at 7,569 after rising 0.3 percent on Friday.
Canadian Dollar Eases Against Most Majors
Swiss Market Ends Sharply Lower
European Stocks Close Weak As Trade War Fears Hurt Sentiment
Canadian Market Remains Weak On Tariff Concerns
Bay Street Likely To Open Lower
Pound Falls As U.K. Economy Contracts For Second Straight Month
Wall Street Likely To Open On Weak Note
