French and German stock markets hit record peaks in opening deals Thursday on hopes that the European Central Bank and Federal Reserve could cut interest rates in June.
The Paris benchmark CAC 40 index jumped as high as 8,203.49 points and the Frankfurt DAX briefly touched 18,027.56 points.
It comes as traders increasingly expect policymakers at the European Central Bank to cut interest rates this summer from their record highs of 4pc.
Governing Council member Yannis Stournaras, who heads Greece’s central bank, told Bloomberg: “We need to start cutting rates soon so that our monetary policy does not become too restrictive.
“It is appropriate to do two rate cuts before the summer break, and four moves throughout the year seem reasonable. Insofar, I concur with the markets’ expectations.”
Jeffries chief Europe economist Mohit Kumar said recent ECB comments “further indicated a June cut as the likely scenario”.
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2024-03-14 10:04:00Z
CBMiZ2h0dHBzOi8vd3d3LnRlbGVncmFwaC5jby51ay9idXNpbmVzcy8yMDI0LzAzLzE0L2Z0c2UtMTAwLW1hcmtldHMtbGF0ZXN0LW5ld3Mtam9obi1sZXdpcy1hbm51YWwtcmVzdWx0cy_SAQA
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