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European stocks set to open mixed ahead of key Fed meeting

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European markets pointed to a mixed open Wednesday ahead of a much-anticipated U.S. Federal Reserve decision on interest rates.

He then went on to leave open the possibility of, ahead of Wednesday's crucial monetary policy meeting. The Fed will make a decision on interest rates at 2.p.m. ET, with investors hopeful that Powell will signal a rate cut in the near future.

In the U.K., the number of Conservative party hopefuls to replace Prime Minister Theresa May was cut to five, after former Brexit Secretary Dominic Raab was eliminated in the second round of secret ballots. Eurosceptic former Foreign Secretary Boris Johnson continued to surge ahead, with Conservative Members of Parliament set to vote in their third leadership ballot Wednesday.

The ECB Forum concludes Wednesday with European Commission President Jean-Claude Juncker is due to speak at 9.30 a.m. BST.

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