A market stall in Kingston, London, 2024.
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LONDON – European markets fell on Wednesday as investors considered key data from the region and focused on the Federal Reserve’s interest rate decision.
Pan-European Stoke 600 At 8:33 a.m. London time, the index fell 0.17%, with regional stock markets and sectors mostly retreating. Mining and technology stocks last fell 0.66%.
The Stoxx 600 closed higher on Tuesday.
In Europe, UK inflation data Growth in August was 2.2%, reported on Wednesday, according to the National Bureau of Statistics. This is unchanged from July and in line with expectations.
The data comes ahead of a Bank of England meeting and interest rate policy decision scheduled for later this week. It’s a busy week for central banks, with the Bank of Japan and the Federal Reserve also scheduled to hold meetings.
The Federal Reserve is almost certain to announce a rate cut on Wednesday, which would be the first rate cut since it began raising rates in March 2022.
However, traders were divided on the extent of the price reduction. The odds of a 50 basis point rate cut have been rising in recent days and were last at 65%, according to CME Group Fed Watch tool.
US stock futures Little has changed until the Fed makes its decision. Asia Pacific market Meanwhile, Wednesday was mixed.
Back in Europe, the final Eurozone inflation data for August will also be released soon.
