U.K. inflation cooled more than expected in November, increasing the likelihood that the Bank of England will cut interest rates at its final policy meeting of the year on Thursday.

European stocks opened higher Monday as investors brace for a busy week of central bank meetings.

European stock markets are poised for a weaker start on Wednesday as global investors turn their attention to the U.S. Federal Reserve’s final interest-rate decision of the year.

The S&P 500 rose on Friday, marking its fourth consecutive day of gains and edging closer to its record high as investors digested U.S. inflation data that could bolster expectations for a Federal Reserve rate cut this week.

The UK economy recorded zero growth in the third quarter of 2024, according to revised figures released by the Office for National Statistics (ONS) on Monday.

The latest US inflation data indicates that consumer prices rose by 0.5% in January, following a 0.4% increase in December, as the US Bureau of Labor Statistics reported.

After Bank of Japan (BoJ) members confirmed their readiness to hike interest rates again, the Japanese yen reached an eight-week high.

China’s manufacturing PMI, released on Monday, came in lower than December’s reading and below expectations.

UK inflation came in hotter than expected in June, rising to 3.6% year-over-year, according to data released this week by the Office for National Statistics.

President Donald Trump is reportedly considering firing Federal Reserve Chair Jerome Powell, a move that would be unprecedented and could rattle financial markets.