European Markets Open Higher Ahead of Key Central Bank Week
European markets open higher as investors eye ECB, BOE rate decisions, inflation data, and growth outlook amid a crucial week of central bank meetings.
European stocks are expected to open higher at the start of a busy week for Europe's central banks.
It's set to be a busy week for investors in Europe, with the European Central Bank holding its final policy meeting of the year on Thursday, where the bank is expected to keep rates unchanged at 2%.
Speaking to the Financial Times, ECB President Christine Lagarde said the central bank could revise its growth forecasts higher again in December, after raising its annual GDP growth forecast to 1.2% in September.
Other central banks, including the Bank of England, the Riksbank, and Norges Bank, will also be making their final monetary policy decisions for 2025 this week. These decisions could be difficult, but the BOE is expected to cut interest rates. Eurozone and U.K. inflation figures are also due on Wednesday.
European leaders will also be tested this week as they meet in Brussels on Thursday for a summit to discuss funding for Ukraine, including the potential use of billions in frozen Russian assets to support a €210 billion ($246 billion) loan to Kyiv.
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Overnight in the U.S., stock futures were little changed Sunday night after a mixed week on Wall Street, which saw a significant rotation out of the tech sector and into parts of the market trading at lower valuations.
Traders were also bracing for a slew of U.S. economic data reports this week, including November's non-farm payrolls figures and October's retail sales figures, which were released on Tuesday. These reports were delayed due to the U.S. government shutdown. November's Consumer Price Index is due on Thursday.
Asian-Pacific markets fell on Monday following declines on Wall Street last week, weighing on sentiment.
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