European stocks edge up ahead of Fed decision

Financial market expectations suggest approximately a 92% probability of the U.S. Federal Reserve raising interest rates by 25 basis points at the upcoming committee meeting. This would be the first increase since mid-2023, amid ongoing high inflation levels and oil prices exceeding $113 per barrel. European stocks experienced modest gains as investors awaited the Fed's decision, after markets previously declined due to rising oil prices and geopolitical risks in the region. Investors are also focused on Fed Chair Jerome Powell's conference to determine whether the rate hikes will continue independently or as part of a series of increases to combat inflation.

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