Stock prices in London closed mixed on Monday following remarks from New York Federal Reserve president John Williams and as UK investors wait for the Government’s latest Budget on Wednesday.
BBH analyst Elias Haddad said: “Fed funds futures raised odds of a December 10 rate cut from roughly 35% to as high as 70% following Williams’ comments…Williams noted: ‘I still see room for a further adjustment in the near term to the target range for the federal funds rate to move the stance of policy closer to the range of neutral.’
