LONDON: World equity markets trod water Friday as investors awaited signals from Federal Reserve chief Janet Yellen about the possible timing of the next interest rate hike.
"Global equities are lacklustre into the weekend as profit taking grips investors on both sides of the pond following recent record highs," said Accendo analyst Henry Croft.
"Investors are also looking ahead to a choir of Fed speakers -- including chair Yellen -- this afternoon ahead of the central bank's self-imposed blackout period before the March 15 meeting," he said.
Oanda analyst Craig Erlam said the week "has already been dominated by the US central bank, with a large number of Fed officials making public appearances ahead of the blackout period -- which starts tomorrow -- and voicing their support for a rate hike very soon."
The odds were now more than 75 percent that a rate hike was forthcoming, the expert said, with some seeing an even higher probability.
Yellen and four more officials, including vice chairman Stanley Fischer, were scheduled to speak later on Friday and "it is now down to them to fine tune the message and ensure markets are properly positioned ahead" of the next rate-setting meeting, he said.
Yellen is due to start speaking around 1700 GMT. Even Fed governor Lael Brainard, a so-called "dove" on monetary policy, suggested rates could rise soon.
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