LONDON — European stocks are expected to open flat to higher Tuesday as investors look ahead to the Federal Reserve's next meeting and U.S. inflation data.'A unique Nvidia proxy': Morgan Stanley names a global stock as its new top pickshowed the number of payrolled employees was up 0.6% year on year in May, but the unemployment rate ticked higher to 4.4% from 4.3% on a quarterly basis.
Annual growth in wages excluding bonuses held at 6% over the three months from February to April, presenting a potential concern for the Bank of England as it considers when to reduce interest rates. "What the Bank of England crucially wants to see is wage inflation fall more than it has, especially with the headline rate of inflation very much near target," Richard Carter, head of fixed interest research at Quilter Cheviot, said in a note.
"The BoE will be incredibly cautious to cut rates at a period when spending power is high for consumers and potentially triggering a fresh inflationary bout. As such, today's data will continue to put a dampener on a rate cut in June or August, with November remaining the likeliest date to see that first fall."Market attention is now shifting to the U.S. Federal Reserve's latest rate decision and May's consumer price index, which will be released Wednesday. The U.S.
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