European stocks are heading for a mixed open on Wednesday as global markets react to the latest U.S. inflation reading, and look ahead to the U.S. Federal Reserve’s monetary policy decision later today.
Global markets rallied Tuesday after the latest U.S. inflation showed that consumer prices rose less than expected in November, signalling that inflationary pressures could be starting to ease.
The consumer price index, which measures a wide basket of goods and services, rose just 0.1% from the previous month, and increased 7.1% from a year ago, data from the Labor Department showed. Economists surveyed by Dow Jones were expecting a 0.3% monthly increase and a 7.3% 12-month rate.
The U.S. Federal Reserve concludes its last meeting of 2022 on Wednesday and economists widely expect the central bank to raise rates by half a percentage point..