European stocks opened higher Wednesday ahead of the latest U.S. Federal Reserve decision and inflation reading.
Data out of the U.K. on Wednesday showed that the country's economic growth was flat in April as construction output declined for the third month in a row.
Elsewhere, the U.S. Federal Reserve's decision on Wednesday will come hours after the country's May inflation report.The pan-European Stoxx 600 was 0.27% higher at 8:03 a.m. London time, with most sectors starting the day's activity in the green.economic growth was flat in April as construction output declined for the third month in a row. The monthly gross domestic product reading was in line with expectations, but was lower than March's 0.4% expansion.
Elsewhere, the U.S. Federal Reserve's decision on Wednesday will come hours after the country's May inflation report.The central bank is expected to maintain its benchmark overnight borrowing rate in a range between 5.25% and 5.5%, the marketto the Fed's economic projections, which could clarify the path for policy. Investors have grown increasingly concerned that the recent strong jobs report and sticky inflation support a higher-for-longer interest rate environment.
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