Investing.com - European stock markets rose Wednesday, as investors digested regional growth and inflation data ahead of the conclusion of the latest Federal Reserve policy meeting., harmonised to compare with other European Union countries, rose 2.8% on the year in May, an increase from 2.4% in April.
Prices of services were 3.9% higher in May than in the same month a year earlier, following an increase of 3.4% in April.cut interest rates last week, deeming inflation had retreated sufficiently for monetary policy to be eased to boost a struggling economy.Fed policymakers are, however, likely to dial back on their projections for three rate cuts this year when they announce their rate decision as inflation has proved to be sticky so far this year.
Adding to the optimism was the news that the U.S. Energy Information Administration has raised its 2024 world oil demand growth forecast to 1.10 million barrels per day from a previous estimate of 900,000 bpd.
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