Banque de France Governor Emmanuel Moulin told CNBC that France is “putting the house in order” and can bring its deficit down to 3% of GDP by 2029, despite political turmoil. France is under the EU’s excessive deficit procedure after a 5.1% deficit last year, and Moulin said what matters is passing a budget that sticks to the government’s 5% target. Yields on French government bonds (OATs) have hit multi-decade highs this year, but Moulin called the rise a global phenomenon and said he was confident in financial stability, citing well-capitalized banks and insurers. Prime Minister Sebastien Lecornu has submitted a draft 2027 budget targeting 54 billion euros in spending cuts, but it faces hurdles in the fractured National Assembly. Nationwide student protests, spreading from Paris, add to the political uncertainty.
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Related tickers and likely impact
EUR/USD
▲ Likely positiveRelevance: low
| Market | Currencies |
|---|---|
| Close on 10/14/2026 | 1.11573 |
| Change that session | -0.38% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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