European Stocks Set for Lower Open as Investors Await Fed Decision

European stocks are expected to open lower Wednesday as investors await the latest monetary policy decision by the U.S. Federal Reserve.Investors will also be paying close attention to Fed policymakers' Summary of Economic Projections and Fed Chair Jerome Powell's press conference, seeking clues about what might happen in the months ahead.

The central bank is widely expected to temper runaway expectations of more rate cuts in the approaching year, particularly as inflation remains stubborn.Data releases on Wednesday include the latest U.K. inflation rate. The data comes ahead of the Bank of England's monetary policy meeting on Thursday, with markets so far pricing in only a slim chance of a final rate cut of the year.

The British pound traded lower against the dollar and the euro on Wednesday morning, as investors awaited the U.K.'s latest inflation print and a policy update from the Bank of England. Sterling was around 0.1% lower against the euro, and 0.06% weaker against the greenback by 6:35 a.m. London time.Stock futures are little changed after Dow posts nine-day losing streak; traders await Fed decisiontexas dmv

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