Global Stocks Rise, Oil Prices Slip Ahead of Anticipated US Fed Rate Hike; UK August Inflation Remains Elevated at 3.1%

Global stock markets experienced gains and oil prices declined on Wednesday as investors awaited the Federal Reserve's interest rate decision. Official data released today revealed that UK annual inflation remained above the Bank of England's 2% target, reaching 3.1% in August, primarily driven by surging fuel prices. The Federal Reserve is widely expected to increase borrowing costs for the first time since 2023 to combat persistent inflation.