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European stocks climb ahead of Fed decision
European stocks rose slightly after a sharp decline pushed the market to its lowest level in several months, amid investor anticipation of the Federal Reserve's decision on interest rate hikes. It is expected that the Fed will increase rates by 25 basis points, marking its first hike since mid-2023, as inflation remains high and oil prices stay above $113. The market is now focused on the Federal Reserve Chair's press conference to gauge the likelihood of further interest rate increases in the future.
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