European markets mixed ahead of bumper week for central banks

LONDON — European stocks were mixed Monday as investors prepared for a bumper week of interest rate decisions from the U.S Federal Reserve and the Bank of England.

The pan-European Stoxx 600 was down 0.1% by 2:00 p.m. London time, with sectors and major bourses diverging. Tech stocks shed 0.64%, while retail added 0.53%.

The regional benchmark closed higher on Friday and added 1.09% for the week as positive momentum returned to the market.

With a U.S. rate cut now all but guaranteed, investors are waiting to see by how much the Fed will cut rates on Wednesday, and what guidance chair Jerome Powell will give on the future path for monetary policy.

The Bank of England will also meet Thursday for its latest monetary policy decision, with markets currently split on whether or not it will move to cut rates for the second time in two months.

Markets in Asia were mixed Monday as investors digested key economic data from China and awaited the Bank of Japan's meeting on Friday. U.S. futures were seen little changed.

Back in Europe, inflation in Italy fell to 1.1% in August, fresh data from Istat showed.