European stocks are expected to open slightly higher, as markets await the outcome of the U.S. Federal Reserve's policy meeting on Wednesday.
The Fed will also release new forecasts on Wednesday, which could indicate a possible first rate hike penciled in for 2023. Previously, Fed officials hadn't come to a consensus for a rate hike through 2023.
The meeting comes as inflation heats up, with producer prices rising at their fastest annual rate in nearly 11 years during . This has prompted some, including Paul Tudor Jones, to call for the central bank to rethink its easy monetary policy.as investors looked ahead to data releases in China as well as the Fed's latest decision. China is set to announce industrial production and retail sales for May later Wednesday.
The U.K. will release inflation data for May on Wednesday, but there are no other major earnings releases expected.Sign up for
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