CAC 40 Drifts Lower Ahead Of ECB Decision

(RTTNews) - French stocks traded lower on Thursday as investors awaited the ECB's rate decision as well as President Christine Lagarde's press conference for directional cues.

The central bank is expected to keep interest rates unchanged at record highs for the fourth policy meeting in a row but could signal potential future cuts in case there is more evidence that inflation remains under control.

Meanwhile the European Central Bank's updated economic projections are likely to reflect lower economic growth and inflation for the year.

The benchmark CAC 40 was down 23 points, or 0.3 percent, at 7,932 after rising 0.3 percent on Wednesday.

Analysts see downside risks to the euro from today's ECB meeting.