European stocks are set to open slightly lower Monday, amid waning expectations of an aggressive interest rate cut by the Federal Reserve.
European Markets: FTSE, GDAXI, FCHI, IBEX
the Fed was likely to cut rates by a quarter-point at the July 30-31 Federal Open Market Committee meeting.by New York Fed President John Williams had boosted expectations the central bank could cut rates by 50 basis points. However, the New York Fed sought to clarify Williams' comments by saying his speech was not about policy action at the upcoming central bank meeting.
Back in Europe, voting in the U.K.'s Conservative Party leadership contest is set to close later in the session, with the next prime minister scheduled to be announced on Tuesday.
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