European markets brace for Fed decision as hot Australia CPI, RBNZ surprise and oil rally stir nerves

It has been quite an eventful start to the day so far as the central bank bonanza rolls into town. That is putting inflation back in the spotlight with there already being plenty to digest before European traders get to their desks and before we even get to the main events later today.To start with, we saw Australia's latest CPI report came in hotter than expected with trimmed mean inflation rising to 3.7%.

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