BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - French stocks advanced on Thursday as investors awaited a key monetary policy update from the Bank of England for direction.
The central bank is not likely to make any policy changes but looks set to raise its inflation forecasts as surging prices worldwide pose a threat to economic recovery.
The benchmark CAC 40 was up 36 points, or half a percent, at 6.782 after rising 0.3 percent the previous day.
The U.S. dollar held at its highest in eight days as hawkish comments from Federal Reserve Vice Chairman Richard Clarida cemented expectations for a hike in interest rate in early 2023.
Speaking at an online event hosted by the Peterson Institute for International Economics, Clarida said that criteria for raising rates could be achieved by the end of 2022, warranting an action in early 2023.
Credit Agricole shares fell about 1 percent. The lender said its second-quarter net income more than doubled from the same period last year as provisions declined reflecting an improving economy.
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