Wall Street futures were higher after the benchmark S&P 500 index lost 0.4% on Tuesday.
In early trading, the FTSE 100 in London rose 1.1% to 7,262.53 and Frankfurt's DAX gained 1.4% to 13,498.03. The CAC 40 in Paris advanced 1.4% to 6,033.15. Expectations of an unusually big Fed rate hike increased after government data Friday showed consumer inflation accelerated in May instead of easing as hoped.
Japan's central bank has kept rates near record lows. That has caused the yen to fall to two-decade lows below 135 to the U.S. dollar as traders shift capital in search of higher returns.