Recently, European stocks traded in a range amid worries about a volatile U.K.

bond market and reports of additional Russian missile attacks on Ukrainian towns.

Investors are waiting for statistics on consumer price inflation in the US later in the day,

which may provide additional insight into whether the Federal Reserve

needs to implement restrictive monetary policy in order to reduce inflation, which is at multi-decade highs.

The U.S. central bank is expected to increase policy rates by 75 basis points in November despite the possibility of a recession.

Closer to home, the European Central Bank is anticipated to increase its benchmark interest rate by at least another 75 basis points

at its meeting in late October, following the Eurozone's first-ever double-digit inflation rate of 10.0 percent in September.

Swipe Up to read more