European stocks dip as US rate worries resurface

Oct 13 - European stocks slipped on Friday after U.S. inflation data fuelled concerns about interest rates staying higher for longer, while weak inflation data from China added to jitters about the global economy.

Wall Street's main indexes closed lower on Thursday after data showed consumer prices rose more than anticipated in September, boosting chances of the Federal Reserve delivering another rate hike this year. Volatility has gripped equity markets in recent weeks as U.S. bond yields surged to multi-year highs, but stocks have largely remained supported on hopes that the major central banks are near the end of their monetary tightening cycle."The next real question is about interest rate cuts and the timing of it. We tend to be a little bit more hawkish," said Bimal Patel, senior fund manager for global equities at Canada Life Asset Management.

Investors will focus on U.S. bank earnings later in the day for clues on how Wall Street lenders are faring amid concerns around elevated inflation, slowing economic growth and a bond market rout.

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