European Shares Seen Opening Up As Traders Shrug Off Fed Hike

(RTTNews) - European stocks are seen opening higher on Thursday after the U.S. Federal Reserve delivered its first interest-rate hike since July 2023 and suggested rates may need to go still higher to get inflation under control. According to forecasts published after the meeting, Fed officials expect the federal funds rate to end this year at 4.1 percent, up from the current range of 3.75 percent to 4 percent following the latest 25-bps increase. According to data from CME Group, investors currently bet on a 38 percent probability the Fed could hike the federal funds rate to a range of 4.25 percent to 4.40 percent by the end of the year.